Average rents stood at £775 in Q1

Average rents stood at £775 in Q1

Mortgage Introducer reports “Tenants paid average monthly rents of £775 during the first quarter (Q1) of 2020, an increase of just £2 or 0.26% on final quarter (Q4) of 2019, according to The Deposit Protection Service (The DPS).” “Outside London average monthly rents for Q1 2020 were £679, a £7 (1.04%) increase since Q4 2019, said The DPS.  The North East remains the cheapest place to rent, with tenants paying £517 per month or 23% of their salaries during Q1 2020, according to The DPS.”

“Year-on-year (Q1 2019 to Q1 2020) rents across the UK increased £18 (2.38%) from £757, said The DPS. Rents for detached properties increased by £9 (0.9%) a month to £1,007 during Q1 2020 and rents for terraced properties decreased by £3 (-0.41%) a month to £725, it added. Across the UK, the annual average proportion of monthly wages spent on rent during Q1 2020 remained around 31%, said The DPS.” Read the full article  

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