Mon 12 Dec 2016
Rental figures from national property group Countrywide show the rest of the UK is currently experiencing greater growth than London - the first time this has happened since 2010.
Their November Lettings Index shows continued growth in all areas aside from Greater London and Wales. East Anglia is again one of the strongest performing regions, with an increase in average year on year rent of 4.3%. In real terms, this means the average monthly rental value has gone up from £941 to £981. In West Cambridgeshire demand continues to outstrip supply, and as such we predict rents will continue to rise in our region, albeit at a slower rate than previously.
The gap between rents in London and the rest of Great Britain has steadily grown over the past five years, as the lack of supply has taken hold. By 2015, the gap had reached a record £490 a month, up from £150 a month in 2010.
However it seem rents may have peaked in the capital, as the gap between London and the rest of the country has now reduced. By November 2016 the gap had fallen to £489 a month, the first fall since 2010.
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