Rent growth has accelerated across five of England’s nine regions since the Renters’ Rights Act was implemented in May. This acceleration occurred even though the national average monthly rent increase remained unchanged at 0.6%, rising from £1,442 to £1,451.
The West Midlands recorded the largest increase in rent growth, moving from 0.2% before the Act to 0.8% afterwards. Other regions experiencing accelerated growth include the North West, where rents increased by 1.2% compared to 0.7% previously, and Yorkshire and the Humber, which saw growth rise from 0.5% to 0.9%.
London's average monthly rent also increased by 1%, from £2,294 to £2,317, compared to 0.6% growth in the earlier period. Some London boroughs saw even larger changes, with Southwark rents rising by 1.5% and Kensington and Chelsea moving from a 0.2% fall to an increase of 1.1%.
According to Marc von Grundherr, a director at Benham and Reeves, the Act initially created uncertainty, leading to tenants delaying moves. He suggests that with greater clarity, pent-up demand is now returning to the market, contributing to increased activity and competition for available homes.