Rental growth slows across the UK, up just 0.4% in first half of 2018

Rental growth in the UK has continued to slow, with rents increasing by just 0.4% in the first half of the year, the latest index data shows. The East Midlands and the East of England have led the growth with a rise of 0.95% and 0.70% respectively, according to the Landbay index. At a county level, Nottingham saw the fastest rental increases in H1, at 1.43% and 1.25% respectively. In contrast, the North East has dragged behind with rents falling by 0.08% in the first six months of 2018. Meanwhile, rents in London grew by 0.1% in the 12 months to June 2018, the first annual rental rise in the city since December 2016 with rental values up in 25 out of the 33 boroughs over the last six months. The average rent paid in the UK is £764 per calendar month and in London, it is £1,884, some 2.5 times the rest of the country.