South East rents go through the roof

Renting in the South East now costs an average £1,172, £50 more than Q1 2013.

Greater London rents grew by £55 in the first three months of 2014, while they also increased by £40 in Scotland.

Average advertised rents increased by £15 across the whole of Britain to reach a peak of £995, a 2.66% increase on the same period last year.

Robin King, director, Move with Us, said: “The overall growth of the UK rental market is a sign that Help to Buy hasn’t affected the rental market as some first feared.

“While the 5% deposit that the government scheme brought about has enabled people to purchase property in previously unaffordable areas such as Greater London, it certainly hasn’t hindered rental prices for landlords and investors.

“Rents have dropped in places such as Wales and the North East but this was expected on the back of significant rises seen in the last quarter. On the whole, the UK rental market has had a good start to the year.”

On the other end of the spectrum asking rents decreased by £54 in the North East and £27 in Wales in the first three months of 2014.