Latest rent rises blamed firmly on Renters Rights Act
Summary
New ONS figures show UK private rents continuing to rise, with the average monthly rent reaching £1,393 in July, up 3.7% year on year. The article attributes the increase to reduced rental supply and landlord behaviour linked to the Renters Rights Act, alongside continued strong tenant demand.
Why it matters
Residential surveyors involved in lettings, valuation and rental market analysis need to understand the drivers behind rent inflation and supply constraints. The article also highlights how legislative change can affect landlord decisions, tenant behaviour and market conditions.
Key points
- Average UK private rent rose to £1,393 per month in July, about £50 higher than a year earlier.
- Commentary links higher rents to reduced supply as some landlords leave the sector.
- Landlords remaining in the market are reportedly asking for stronger references and higher rents to manage perceived risk.
- Demand remains strong, especially for higher-end rental homes ahead of the new school term.
- The Renters Rights Act is presented as a key factor influencing market behaviour.
Organisations:
Office for National Statistics, Knight Frank, RICS
Regulations:
Renters Rights Act
Locations:
UK, north London
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