London has the highest average rent of any region, averaging at £2,190 per month. However, the slowdown in growth is also being led by London, as this region had the lowest annual increase in rent. Rents in London are 1.3% higher over the last year, down from 8.7% annual growth a year ago.
However, more affordable areas, such as the North of England and Northern Ireland, are still recording lofty rental rises. This suggests that renters in these regions have not hit an affordability ceiling to the same degree as in London and other southern cities. The average UK increase in rents is much higher when excluding London — sitting at 5.1%.
Liverpool had one of the highest increases of major UK cities, with a yearly jump of 6.5% in October. RWinvest targets high-demand cities such as Liverpool to match investors with the best property investment opportunities in the UK market. Our latest off-plan launch, SoapWorks, is located in the Pumpfields regeneration district, which is expected to see strong rental growth in the coming years. This is due to its ideal location, top employment opportunities in Liverpool’s expanding business district, and proximity to its top universities.