The South leads the charge as rents exceed record £1,000 consumer

4 August 2014

The average advertised rent for Great Britain has exceeded £1,000, having increased by 2.46% compared to the first quarter of 2014.
Advertised rents peaked in the last week of June when they reached £1,018 per month, after continuing on an upward trend for more than 12 months.
The London market has contributed significantly to the increase in the national average advertised rent. Rents in the capital continue to grow at a much faster rate than any of the other regions, increasing more than £70 in Q2 2014 and reaching £2,334 per month.
The South East and East Anglia have both performed well in the second quarter of the year, increasing by £64 and £37 from the previous quarter. 
The North East and the North West were the only regions where the average advertised rent declined in both a quarterly and yearly comparison, falling to £649 per month and £619 per month respectively. Yorkshire & Humber also saw its average advertised rents fall by £23 in the second quarter of the year, over 4.11% less than Q1 2014.
Scotland recorded the highest annual percentage increase of any region in Britain at 8.39%. This is more than both Greater London and the South East which grew by 7.76% and 8.03%. Average advertised rents in Scotland ended the quarter by hitting a yearly high of £737 per month in June.
Robin King, Director, Move with Us, says: “The second quarter of the year has seen average advertised rents in most regions continue to follow the growth recorded in the first three months of 2014. However, the divide between the North and South of the country was strongly accentuated in the last quarter. While rents in London, the South East and East Anglia performed well and increased steadily in Q2 2014, regions in the North such as the North East and the North West experienced a slight decline over the same period. Scotland was the exception of the North, recording the highest annual percentage increase of any region in Britain, more than London and the South East.”

The average advertised rent for Great Britain has exceeded £1,000, having increased by 2.46% compared to the first quarter of 2014.

Advertised rents peaked in the last week of June when they reached £1,018 per month, after continuing on an upward trend for more than 12 months.

The London market has contributed significantly to the increase in the national average advertised rent. Rents in the capital continue to grow at a much faster rate than any of the other regions, increasing more than £70 in Q2 2014 and reaching £2,334 per month.

The South East and East Anglia have both performed well in the second quarter of the year, increasing by £64 and £37 from the previous quarter.

The North East and the North West were the only regions where the average advertised rent declined in both a quarterly and yearly comparison, falling to £649 per month and £619 per month respectively. Yorkshire & Humber also saw its average advertised rents fall by £23 in the second quarter of the year, over 4.11% less than Q1 2014.

Scotland recorded the highest annual percentage increase of any region in Britain at 8.39%. This is more than both Greater London and the South East which grew by 7.76% and 8.03%. Average advertised rents in Scotland ended the quarter by hitting a yearly high of £737 per month in June.

Robin King, Director, Move with Us, says: “The second quarter of the year has seen average advertised rents in most regions continue to follow the growth recorded in the first three months of 2014. However, the divide between the North and South of the country was strongly accentuated in the last quarter. While rents in London, the South East and East Anglia performed well and increased steadily in Q2 2014, regions in the North such as the North East and the North West experienced a slight decline over the same period. Scotland was the exception of the North, recording the highest annual percentage increase of any region in Britain, more than London and the South East.”

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