London market climbs £118 in Q3 2014

24 October 2014

The average national rent has been significantly influenced by a burgeoning London market in Q3 2014. The average advertised rent in the capital has risen by a staggering £118 in Q3 to reach £2,452 per month. This figure is £230 higher than it was during the same period in 2013.

Across Great Britain, advertised rents have increased by £66 per month in a yearly comparison to reach £1,034 per month in Q3 2014.

Rents in the South East and East Anglia reached the highest recorded levels in Q3 2014 at £1,254 and £947 per month, increasing by £18 and £11 each month respectively. Scotland also continued to be a strong performing region, with average rents hitting record levels of £727 per month.

In the remaining northern regions however, rents have fallen gradually across the board with Yorkshire and Humber seeing price reductions of over £20 per month in Q3.

Robin King, Director, Move with Us, says: “There is a stark contrast between the South and North of England as the divide between the cost of renting increases. For example, in Yorkshire and Humber the average rent is only £4 per month higher in a yearly comparison but in the South East this figure is significantly higher at £112 per month. North of the border, in Scotland, landlords have benefited from a significant rise in the average advertised rental price.

“Annual growth is always good news for landlords but those in regions where we are not seeing huge amounts of growth shouldn’t be too concerned as we approach the end of the year. January is likely to bring a new influx of potential renters to the market who are looking to move in the New Year.”

Back to index