London rental growth is being outpaced by the regions after prices in the capital stalled in the three months to February, according to a survey out today.
HomeLet’s Rental Index found that rent prices rose across seven of the 12 UK regions, with the north east and south west of England leading the way with growth of 3.1 per cent and 2.5 per cent respectively.
In contrast, average rent prices in London remained static at £1,412 per month compared with the three months to the end of January.
The average UK rent is now £899, compared to £889 at the end of January and £873 in December.
Martin Totty, chief executive of HomeLet’s parent company Barbon Insurance Group, said: “2014 saw the London rental market outstrip the rest of the UK in terms of rent price growth but what we are seeing so far in 2015 is the private rental market becoming much more broad-based with the strongest rent price growth occurring outside of the capital.”