What is the average rental value in the UK?
For March 2021 the data shows that the average rental price for a new tenancy in the UK was £922 per calendar month (pcm), which is up by 3.4% on last year.
Latest Rental Index data: March 2021
- The average rent in the UK is now £922, up by 0.8% from last month, and up 3.4% on last year.
- When London is excluded, the average rent in the UK is now £847 which is up 0.8% on last month and 6.8% on last year.
- Ten of the Twelve regions showed an increase in annual variance, with the largest, as last month, being the East Midlands at 10.5%.
- The South West shows the highest yearly increase of 8% between January 2020 and January 2021.
- Average rents in London are down YOY, showing a 5.2% fall between March 2020 and March 2021; this is the tenth decrease in annual variance in subsequent months.
- However, the average rental value in London (£1,586) was still 87.2% higher than the rest of the UK excluding London (£847).