Rental price growth slowed during October
By |Published On: 4th November 2016|

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Rental price growth slowed during October

By |Published On: 4th November 2016|

This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.

The rate of rental price  growth in Britain slowed to 0.05% during the month to October, according to the latest findings from the Landbay Rental Index.

Data from the report indicates that growth has slowed marginally from the 0.09% seen in September.

Rental Growth

The top level of rental growth seen over the last twelve months was in Luton, with 7.11%. Edinburgh City and Northamptonshire also saw decent growth, of 5.63% and 5.59% respectively.

Nine of the top ten rental growth regions were found to be in England.

On the other end of the scale, Aberdeen saw the largest falls in rent, with prices down -13.22%. Aberdeenshire too saw a large drop, of -9.03%.

Falls in the last year were also seen in Inverclyde (-2.39%) and Dundee City (-0.87%). In London, it was a mixed market, with four prime boroughs, Westminster, Kensington and Chelsea, Richmond and Camden, amongst the largest fallers.

Scotland has seen rents rise by an average of 1.55% in the last twelve months, the fastest of all the Home Nations.

The figures below indicate how rents have changed by region year-on-year:

Top 10 Annual % Change (YoY)
1 East England Luton 7.11%
2 Scotland Edinburgh City 5.63%
3 East Midlands Northamptonshire 5.59%
4 South East Medway 4.59%
5 East England Bedfordshire 4.58%
6 South West Swindon 4.57%
7 East England Thurrock 4.26%
8 South East Reading 4.21%
9 East England Peterborough 4.19%
10 South West Bristol 4.15%


Bottom 10 Annual % Change (YoY)
1 Scotland Aberdeen City -13.22%
2 Scotland Aberdeenshire -9.03%
3 Scotland Inverclyde -2.39%
4 London Westminster -1.86%
5 London Kensington and Chelsea -1.81%
6 North East Redcar and Cleveland -1.32%
7 London Richmond upon Thames -0.99%
8 London Camden -0.93%
9 Scotland Dundee City -0.87%
10 Wales Ceredigion -0.71%


Rental price growth slowed during October

Rental price growth slowed during October


The average rent in the UK is now £1,188. In London, the average is £1,889!

John Goodall, CEO and co-founder of Landbay, said: ‘Rental growth is slowing across the UK, but the pace of change varies wildly between regions. Falling rents in some of the most expensive parts of the country, especially prime London locations, can distort the picture for the rest of England and the UK where rents are continuing to grow at a steady pace. In the last month alone, rents fell by -0.11% in London, while they continued an upward climb of 0.15% in the rest of England.’[1]

‘Any moderation in rental price inflation will always be welcomed by generation rent, the swelling population of aspiring homeowners and long term tenants. As this month’s Autumn Statement comes over the horizon, all eyes will be on how the UK’s chronic housing shortage will be addressed. Unless supply catches up with demand, there’s nothing to suggest overall rents will go in any direction other than up,’ he added.[1]



About the Author: Em Morley (she/they)

Em is the Content Marketing Manager for Just Landlords, with over five years of experience writing for insurance and property websites. Together with the knowledge and expertise of the Just Landlords underwriting team, Em aims to provide those in the property industry with helpful resources. When she’s not at her computer researching and writing property and insurance guides, you’ll find her exploring the British countryside, searching for geocaches.

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