Buy to Let Rents Rise 1.5% in a Year (November 2018)
Private tenants were paying an average of 1.5% more in rent than a year ago, according to November 2018 data.
The average UK rent is £918 monthly, says buy-to-let tracker Homelet. But a more detailed breakdown shows rents fell year by year in the North East (-3.0%), Wales (-1.8%) and Yorkshire & Humberside (-0.2%).
The highest annual increase was in London, where rents were up 4.4% to an average of £1,597 monthly.
When London rent data is stripped out of the UK figures, average rents outside the capital rose by 0.9% to an average of £760 monthly.
Buy-to-let rents in London are 110% of the UK average. In the capital, the highest rent rises were in Haringey and Islington, where tenants are paying 15.3% more year-on-year with an average rent of £1,730 a month.
Several boroughs saw rents drop - Ealing (-3.5%), Barking, Dagenham and Havering (-3.4%) and Barnet and Bexley ( both -2.3%)
Renting a buy-to-let home was more expensive for tenants and increased during the year to 30.8% of household earnings - up 2.6% from 12 months ago.
UK buy-to-let rents by region - November 2018
| Region | Average rent Nov 2018 | Average rent Oct 2018 | Monthly variance | Average rent Nov 2017 | Annual variance |
| East Midlands | £625 | £628 | -0.5% | £615 | 1.6% |
| East of England | £898 | £908 | -1.1% | £894 | 0.4% |
| Greater London | £1,597 | £1,619 | -1.4% | £1,530 | 4.4% |
| North East | £517 | £515 | 0.4% | £533 | -3.0% |
| North West | £694 | £697 | -0.4% | £685 | 1.3% |
| Northern Ireland | £639 | £653 | -2.1% | £621 | 2.9% |
| Scotland | £635 | £647 | -1.9% | £620 | 2.4% |
| South East | £989 | £1,010 | -2.1% | £976 | 1.3% |
| South West | £819 | £811 | 1.0% | £802 | 2.1% |
| Wales | £599 | £614 | -2.4% | £610 | -1.8% |
| West Midlands | £688 | £693 | -0.7% | £675 | 1.9% |
| Yorkshire & Humberside | £623 | £631 | -1.3% | £624 | -0.2% |
| UK | £918 | £928 | -1.1% | £904 | 1.5% |
Source: Homelet
Subscribers get full access to exclusive content, including forms, articles and discounts, plus our time saving Tenancy Builder tool.
Signup for our free weekly digest and get the latest news and guidance straight to your inbox (some content requires a paid subscription).