Residential rent increased by 1.5 per cent annually in London in March 2018 – a welcome news for buy-to-let investors and landlords.
According to the latest HomeLet Rental Index, the average rent in the capital now stands at £1569 a month, 1.5 per cent more than in March 2017. The monthly variance in London’s rent is 2.1 per cent. In fact, since April 2017, average London rents have been above £1500 hitting a peak of £1609 in August 2017. Though the last one year’s rental growth shows several ups and downs, it has managed to stay above £1500.
The stability in the rental market continues to attract buy-to-let investors and landlords keen on expanding their rental portfolio in London.
The average rents across the UK rose by 0.9 per cent in February 2018 when compared to the same month a year previously; the average monthly rent is now £912. When London is excluded, the average UK rental value was £759 in March 2018, 1.1 per cent more than last year.
If you are looking for a buy-to-let property in London as an investment option, connect with property professionals at our London office, as Strawberry Star has attractive schemes in areas where rental growth is stable.
The index and average prices are produced using HomeLet’s mix adjusted rental index methodology. This helps to track the representative rental values over time, which factor in changes in the mix of property types and locations of rented properties.