Latest research from HomeLet (The UK’s largest tenant referencing agency) has seen on average rental prices across the UK continue to rise over Q2. Overall in the UK, rents have risen by 1.8%. Rents increased in 10 of the 12 areas of the country monitored by the HomeLet Rental Index between May and June 2018, with only Wales and the North East seeing a monthly decrease. London rose by 4.7% with an average rent of £1,596pcm. Experts predict demand for rental properties to remain high in next quarter, and HomeLet has warned that if there are any reductions in Landlords entering the the market this will continue to increase rents further as demand exceeds supply.

A recent survey conducted by Aegon had found that 42.5% of people currently renting their home think they will still be renting at the age of 70. With younger generations finding it harder to get on the property ladder, the UK is set to lose its claim of being a nation of homeowners as the population of lifetime tenant continues to rise. In the 10 years to April 2017, the percentage of households privately renting increased across all working age groups, according to the Family Resources Survey by DWP.