Residential rent witnessed marginal growth in London in February 2018, maintaining the momentum in favour of landlords and buy-to-let investors.
Rents in London increased by 1.1 per cent in February 2018 when compared to the corresponding period last year. The average rent in the capital now stands at £1537 a month, according to HomeLet Rental Index 2018.
The top-five London boroughs where rents were the highest last month included Westminster (£2,135), Camden, City of London (£2,034), Lambeth (£2,024) and Chelsea, Fulham, Hammersmith and Kensington (£1,853) and Tower Hamlets £1,703.
In February, the average rental values in London (£1,537) were 69.6 per cent higher than the UK (£906). When London is excluded the average rent in the UK was £758 in February, average rents in London (£1,537) were 102.7 per cent higher than the rest of the UK.
Rents in the UK rose by 1.2 per cent in February when compared to the same month a year ago; the average monthly rent now stands at £906 a month. When London is excluded, the average UK rental value was £758 in February 2018, this is up 1.6 per cent on last year.
If you are keen on investing in a buy-to-let property in London, Strawberry Star has several schemes, which are likely to gain from rental growth from the long-term perspective. Contact our London office for details.
HomeLet’s February Rental Index reveals that rents rose in 10 of the 12 UK regions covered in the research