In Q1 2024, UK average rent reached a record high, with London at £2,633 and outside London at £1,291, despite a slightly cooling rental market.
Average UK rent for housing adverts and property listings reached a record high in Q1 2024, with the average monthly rent outside London at £1,291, and £2,633 in London. While rental market cools slightly, it remains "very hot" with 22% of rental properties experiencing a price drop, an increase from 16% a year ago. Nearly 50,000 rental properties are needed to return to pre-pandemic levels of supply.
April 29, 2024
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