Asking price rents shoot up across country

The latest Move with Us rental index shows that average asking rents are now £974 across the country.

For the second month running, the index – which was launched in September – is wildly at odds with the longer-standing LSL index, which puts average asking rents at £744 per month.

The estate agency and property services network says that this was a 0.6% monthly increase in October, and an annual rise of 2.85%.

Advertised rental prices in London rose by 0.99% in October. This trend suggests that sustained growth in London is likely in the medium term. London remains the most expensive place to rent with average advertised rental prices now at £2,300 per month.

In the North-East, advertised rental price increases shot up by 5.35%. This is the largest absolute price increase at £34 compared with the £22 per month increase in Greater London. However, house values in the North-East are falling, wiping out capital gains, says Move with Us.

Article courtesy of Landlord Today“”