How has the UK rental market changed over the past year?

The BuyAssociation have published an opinion piece with their views on the changes experienced in 2023.

The article can be read here, and is of the opinion that the UK rental market has seen a rise in average monthly rents, with an increase of 7% from January 2023 to January 2024, bringing the average to £1,154 per month, according to research from Goodlord.

The north-west of England experienced the highest annual rise of 9%, while the East Midlands saw the lowest at 5.5%. London had the highest average rent at £1,968, despite a monthly drop from the record high of over £2,000 last summer.

The research also noted that void periods remained consistent at an average of 22 days, with no major changes in the market.

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