Published • loading... • Updated
Asking rents reach record highs as affordability challenges remain: Rightmove
Average asking rents outside London topped £1,400 for the first time as constrained supply kept pressure on prices, Rightmove said.
- Rightmove reported that average asking rents across Britain hit record highs this quarter, with typical rates outside London surpassing £1,418 per calendar month for the first time.
- Constrained housing supply continues to drive rent growth, though annual increases have settled significantly compared to the around 10% recorded between 2021 and 2023.
- London rents reached an all-time peak of £2,825 per calendar month, reflecting a 3.2% annual increase as available inventory in the capital dropped 9% compared to the previous year.
- Aneisha Beveridge, head of research at Hamptons, noted that rent rises are increasingly occurring within existing tenancies as landlords seek to narrow the gap to current market levels.
- Elevated mortgage rates make property investment less attractive, as Matt Smith, a mortgage expert at Rightmove, said landlords face significant yield impacts when refinancing fixed-rate deals taken out at lower borrowing costs.
Insights by Ground AI
6 Articles
6 Articles
Average rents outside London hit £1,418: Rightmove
Average advertised rents outside London have risen above £1,400 a month for the first time, the latest figures from Rightmove show. The average asking rent reached a record £1,418 per calendar month in the third quarter, up by 1.5% on the previous quarter and by…
UK rental prices reach new highs as supply falls
Average advertised rents outside London have reached £1,418 per calendar month, marking a new record, according to data from property portal Rightmove. The figures show asking rent prices increased by 1.5% this quarter, though annual rental growth has moderated to 2.4%.
Coverage Details
Total News Sources6
Leaning Left2Leaning Right0Center1Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
Factuality
To view factuality data please Upgrade to Premium
