RENTAL growth in Northern Ireland is now in line with the rest of the UK, according to a new report.
The latest Rental Index figures from Homelet show that the average rent in the north was £639 last month, up 1.8 per cent on the same period last year.
Over the month rents in Northern Ireland rose by 0.9 per cent from March (£633).
Across the UK the average rent is now £936 following a rise of 2 per cent over the year. When London is excluded the total is £775 - a 1.8 per cent hike compared to April 2018.
The average rent in London is now £1,617, which is also up 1.8 per cent on last year.
Looking closer at the figures and the south east of England showed the largest annual growth of 3.2 per cent, while 11 out of the 12 regions reported an increase, the exception being the north east of England, where rents declined by 1.1 per cent.
As the UK’s largest tenant referencing firm, HomeLet references over 500,000 tenants each year. The HomeLet Rental Index provides the most comprehensive and up-to-date data on rental values in the UK.
The trends reported within the index are brand new tenancies, which were arranged in the most recent period, providing an in-depth insight into the lettings market.
