Lomond data dissects rental market across UK
Summary
Lomond’s data suggests the UK rental market remains resilient, with average rents rising to £1,369 pcm and tenants spending nearly a third of their income on rent. The article highlights strong regional variation, including higher rents in London and increased demand in areas such as Kent, the North West and Yorkshire, alongside a shift toward longer-term tenant selection as Renters Rights Act reforms bed in.
Why it matters
Surveyors involved in residential valuation, investment advice and rental market analysis need to understand current rent levels, regional demand shifts and affordability pressures. The evolving regulatory backdrop may also affect landlord behaviour, tenancy structures and the assumptions used in market commentary.
Key points
- Average UK rent is reported at £1,369 pcm, up 4.3% year on year.
- London rents average £2,418 pcm, 76% above the UK average.
- Kent saw tenancies agreed rise by 121%, with family housing driving demand.
- North West and Yorkshire rents both increased by 5% year on year.
- The article links the Renters Rights Act to a shift toward longer-term, better-matched tenancies.
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