The average UK rent is now £1,223 after a +7.8% rise in last 12 months 📊
#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
Here's the latest Rental Report from Zoopla:
🔹 Rents for new lets will rise more slowly this year, but only a major supply boost will help with rental affordability.
🔹 The average rent for new lets in the UK is £1,223 as of January 2024 (published in March 2024).
🔹 Rents have risen +7.8% in the last year, the slowest rate of growth in two years.
🔹 The heat is finally coming out of UK rent rises. Annual growth is now at the lowest rate for two years, down to +7.8% from +11% a year ago
🔹 This is down to weakening demand and growing affordability pressures on renters, rather than a big boost in rental supply
📌 Around the country, Zoopla data shows:
For further information on the following topics, read Zoopla's full article here:
🔹 No major expansion in rental supply
🔹 Demand cools but still outweighs supply
🔹 Rental inflation in line with a year ago across most of UK
🔹 Rental growth slows the most in London
🔹 Pandemic price growth pushes half of rented homes into £1,000+ per month markets
🔹 Rents are 29% higher than pre-pandemic on average
🔹 Rise in £1,000+ rents in affordable regions
🔹 Build-to-rent creates new city centre rental markets
🔹 Rents to remain ‘unaffordable’ in 2024
🔹 Rent predictions for 2024: Rental supply must grow to improve rental affordability
How much is your rental worth? Are you charging the right rent on your rental property? Instant valuation in 60 seconds right here ⌛
🌟 Instant online valuation (immediate response, 60-70% accurate)... Click here 🌟
🌟 Remote consultant valuation (24-hour response, 80-90% accurate)... Click here 🌟
🌟 Face-to-face visit (time to suit you, 100% accurate)... Email expert valuer lisa.dahl-parsisson@cavendishproperty.co.uk to get started 🌟
☎📧🗨
For our Daily Property News | Like, Comment and Share | Click here
#CAVENDISHEXPERTS! The logical choice for Lettings, Sales and Property Management in Nottingham | Cavendish Residential | One Fletcher Gate NG1 1QS | 0115 941 0656 | www.cavendishproperty.co.uk
For properties for sale in Nottingham from Cavendish Residential click here
For properties for rent in Nottingham from Cavendish Residential click here
Latest from the BEST ESTATE AGENT in Nottingham 🏆
Latest from the BEST LETTING AGENT in Nottingham 🏆