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Rents are soaring at record speed in the UK

2022-01-27T00:27:50.497Z


Rents in the UK soared last year at record speed, and the rise is expected to continue in 2022, albeit more moderately, according to...


Rents in the UK soared last year at record speed, and the rise is expected to continue in 2022, albeit more moderately, according to an analysis by the property classifieds site Rightmove.

"Average rents have grown at the fastest rate ever recorded and now stand at 1,068 pounds

(almost 1,300 euros)

per month outside London"

, an increase of 9.9% in one year, announced Rightmove in a press release.

In London, rents reached a new record of 2,142 pounds (more than 2,500 euros) per month on average, an increase of 10.9%.

Rents in the British capital have risen above their pre-pandemic levels for the first time.

Read alsoFrench in London: in which district(s) to buy and at what price?

The pandemic had caused London rents to drop drastically in 2020, by almost 6.4%, as tenants, scalded by confinements,

“moved away from the capital”

and

“looked for more space outside the cities. »

. But a year later, London

"regained its popularity and landlords were able to negotiate higher rents"

, analyzes Rightmove.

Rising rents last year were driven by an imbalance between supply and demand: the number of tenants looking for accommodation increased by 32% in one year in the United Kingdom while the number of available properties was divided by two.

The classifieds site forecasts rents to rise another 5% in 2022.

“Tenant demand continues to be very high, which means that the imbalance between supply and demand will continue until it there are more choices in the market

,” said Tim Bannister, director of real estate data at Rightmove.

Read alsoRent in London: where to find accommodation, how to avoid the pitfalls

However

, “landlords understand the importance of having a good tenant over the long term, and there are limits to what they can afford to pay, which will prevent rents from growing at the rate we have seen. last year,"

he said.

Source: lefigaro

All business articles on 2022-01-27

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