The temperature hasn’t been the only thing that has been rising to record highs this summer, the rate of average rents has taken a jump too.
As we’ve sizzled in our cities, landlords have been sitting pretty, with HomeLet data showing a rise in London of 3.3% from this time last year – making the average costs of a London pad a whopping £1,600 a month.
And it isn’t just the capital either, average rents across the UK are up by 1.3% since this time in 2017, with the UK’s average at £937, or £777 if you don’t include the capital. If your rental property is currently on the market, you’re in luck! With rental prices peaking, and everyone feeling the summer love, now is a great time to be looking for the perfect new tenants to take on your property.
If you are considering investing in property or would like Hanna Properties to carry out a review of your portfolio please get in touch and a member of the team will be happy to help.