With Covid-19 restrictions now being eased, landlords around the country
saw rents rise by an average of 2.1% in August.
According to the data from HomeLet, rents have risen by 1.5% compared with
August last year.
Rents in London are still on a downward trend, with the average rent now
standing at £1,653 in the capital - that's a year-on-year fall of 2.1%.
The average UK rent, with London rents excluded, now stands at £825.
The data covers 12 regions, with two of those seeing rent rises of greater
Landlords were shouldering the burden to support tenants
The firm's chief executive, Martin Totty, said: "Throughout the Covid-19
pandemic, private landlords must have felt they were shouldering the burden
to support tenants who had been financially impacted.
"This situation has been further exacerbated by changes to government
policy when landlords have shown they are flexible to help their tenants to
bridge their contractual rent obligations."
He added: "It is encouraging that the rents for new tenancies agreed in
August, and in every area outside of the capital, are up on the same month
in 2019. In most regions, they are ahead of where they were one month
He explained that landlords in London may now be experiencing a correction
in supply versus demand with the sharp reversal in price growth from
pre-Covid figures of 4% rent increase to -2% now.
Mr Totty said: "That's a significant swing and average monthly rents
elsewhere are edging up on a monthly basis and on a long-term trend."
How landlords can add value to their BTL property
Meanwhile, a survey has revealed which DIY projects a landlord should
undertake to add value to their rental property.
The findings come from CIA Landlord to find which are the most valuable and
popular DIY projects that should be undertaken.
The number one spot for the most valuable DIY feature is a home office.
That's because 27% of Brits want one in a future home.
With so many people were now working from home, it should come as no
surprise that having a home office will be a valuable addition.
Landlords interested in boosting their rent price
For landlords interested in boosting their rent price, adding a home office
will cost them £1,715 to create, and they need a good wifi signal too.
Other valuable undertakings include fitting new carpets, curtains and
The worst and least valuable DIY projects to undertake are painted
floorboards and installing cabinets and sinks.