Rental growth in the UK led by the East Midlands in year to February 2018

Rents are growing at different rates in the UK according to location with those in the East Midlands recording the fastest pace of rental growth in the 12 months to February 2018 with a rise of 2.24%. But overall rents nationally were up just 0.69% year on year to an average of £1,199 per month but this disguises considerable regional variations, according to the latest Landbay rental index. In the East Midlands rents increased three times faster than the UK average, led by a 3.42% rise in Leicester and a 3.3% rise in Nottingham. But Scotland, Wales and Northern Ireland are outperforming England, the data shows. Rents in Scotland increased by 1.29% year on year to an average of £732, while in Northern Ireland they climbed 1.47% to £568 and in Wales by 1.45% to £646. When London is excluded the average annual growth is 1.27% to an average of £761.