US EditionRecord high rents as tenants pay £400 more per month than five years ago – index
ENGLAND, JUL 29 – Tenants now pay £400 more monthly than five years ago despite slowing rent growth and improved supply-demand balance, with rents rising 44% since 2020, Rightmove data shows.
- In the second quarter of this year, Rightmove data shows tenants in Britain now pay £400 more per month than five years ago as rents hit record highs.
- With rent inflation outpacing wages, rent increases rose 44%, much of which occurred during the pandemic years of 2021 and 2022.
- Outside London rents have increased by 1.2% to 1,365pcm, while London properties rose 1.9% to 2,712 per month, according to Rightmove data.
- Rightmove says rental properties now get 11 inquiries, down from 16 last year, with nearly a quarter of rental listings seeing price reductions since 2017.
- The market now has rental stock 15% higher than a year earlier, but remains 29% below 2019 levels, with tenant demand down 10%.
12 Articles
12 Articles
Evening Standard
Record high rents as tenants pay £400 more per month than five years ago – index
Five years on from the start of the pandemic, the average monthly rent for a new tenant is £417 more than it would have been in 2020, Rightmove said.
Rent increases by £400 per month for new tenants since 2020: Rightmove – Mortgage Finance Gazette
New tenants are paying on average £400 more per month now compared to the start of the pandemic in 2020, Rightmove reveals. The latest data shows that this is an uplift of 44%, outpacing the increase in average earnings over the same period, which have… The post Rent increases by £400 per month for new tenants since 2020: Rightmove appeared first on Mortgage Finance Gazette.
New tenants pay £400 more a month in rent than five years ago: Rightmove – Mortgage Strategy
New tenants are paying on average £400 more per month now compared to the start of the pandemic in 2020, Rightmove reveals. The latest data shows that this is an uplift of 44%, outpacing the increase in average earnings over the same period, which have risen by 36%. The average advertised rent of homes outside of
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