Q2 2022 saw fastest quarterly rent growth since 2007
Keep up to date with the latest trends in the BTL market by having a read of the latest Rent Index report from The Deposit Protection Service (The DPS). Like Zephyr, The DPS is owned by Computershare, and with over 1.8m tenancy deposits, The DPS Rent Index reports can provide useful insight to brokers and their landlord clients.
Not surprisingly, given the overall increase in the cost of living and inflation, the main take-away this quarter is that average UK rents have risen 8.21% over the past 12 months.
The rapid annual growth is the result of sustained strong quarterly growth. Since Q2 2021 there have been the four biggest increases on record since The DPS started gathering data in 2007.
In fact, this quarter saw growth accelerating faster than ever before, up 2.47% (£21), the first time quarterly growth has exceeded 2%.
Across the UK, average rents have grown in all regions over the past 12 months.
While the pandemic saw a shift away from flats and creating greater demand for larger properties, the last 12 months have seen all property types share significant increases in rental values.