Average rents across the UK rose to £1,369 a month in July, according to the latest HomeLet figures. This represents a 1.2% increase from £1,353 in June and is 4.3% higher than the £1,313 recorded in July last year.
Excluding Greater London, average rents reached £1,170, a rise of 1.1% from June and 3.4% over the year. London remained the most expensive region, with average rents at £2,207 a month, following a 1.2% monthly increase and 6% annual growth.
Rents increased month-on-month in 11 of the 12 regions covered by the index during July. Scotland recorded the largest monthly movement at 2.6%, followed by the South East at 1.4%. The North East and North West each posted monthly rises of 1.3%. Northern Ireland was the only region to record a fall, with its average slipping 0.5% from June.
Mike Dawson, HomeLet's head of sales, stated that the data reinforces a market where demand for rental homes remains consistently strong, with rents continuing to rise in most regions. He highlighted London and the Midlands as showing particularly notable annual growth.