The mercury hasn’t been the only thing that has been rising to record highs this summer, the rate of average rents has taken a jump too.
As we’ve sizzled in our cities, landlords have (for the first time in a while) been sitting pretty, with HomeLet data showing a rise in London of 3.3% from this time last year – making the average costs of a London pad a whopping £1,600 a month. Certainly, a figure to get you hot under the collar (as if you weren’t already).
And it isn’t just the capital either, average rents across the UK are up by 1.3% since this time in 2017, with the UK’s average evening out at £937, or £777 if you don’t include the capital.
The South East saw the largest monthly increases this summer, with a 2.6% boost between June and July. Overall, nine regions across the UK saw spikes in the July heat, although Scotland, the North-East and the East of England saw falls.
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