Residential rents in London continue to remain high in London when compared to the rest of the UK. Average rents in London reached £1,611 in June, about 106.3 per cent higher the average rent (£781) in the UK.
The latest Homelet Rental Index showed that average rents in London increased by 0.9 per cent in June 2019 when compared to the corresponding period in 2018. This demonstrates the importance of the rental market in London. Despite Brexit and its impact on the UK housing sector, the rental market, especially in the UK capital, has maintained its growth momentum.
Continued growth in London rents means that demand for residential properties in the UK capital is increasing. Average rents across the UK rose by 1.8 per cent in June 2019 when compared to the same month a year previously; the average monthly rent is now £941.
It is an ideal time to invest in London’s buy-to-let properties considering the long-term growth potential. The rental values have been growing consistently in London. When London is excluded, the average UK rental value was £781 in June 2019, up 1.8 per cent on last year. Average rental values in London (£1,611) were 71.2 per cent higher than the UK (£941). Buy-to-let landlords in London continue to take advantage of their property portfolio.
Rents in London increased by 0.9% in June 2019 than in the same month of 2018; the average rent in the capital now stands at £1,611 a month.