RENTAL GROWTH HITS AN EIGHT-MONTH HIGH BUT ARE TENANTS ACTUALLY BETTER OFF THAN TEN YEARS AGO nr

Rental growth hits an eight-month high but are tenants actually better off than ten years ago?

Rental growth last month hit its highest level since February, according to data from Countrywide firms.

The agency’s figures, sourced by its Hamptons International brand, suggest rents on new lets were up 2% annually in October to £977 per month.

This is the highest rate of growth since February, with each region seeing a rise.

However, today’s tenants are better off than those a decade ago, Hamptons International’s data also suggests.

It claims that rents have fallen in real terms compared with October 2008 when adjusted for ten years of inflation.

Rents have risen 22% over the past decade, but inflation has risen 24% over the same period.

The east of England and London were the only regions across the UK where rental growth has outpaced inflation.

 

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