Newly agreed rents rise across the UK

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Newly agreed rents have risen across the UK, tenancy referencing firm HomeLet said this morning.

The average rent in the UK for new tenancies over the three months to July was £977 per month – or £761 excluding London.

The average rent on a new tenancy in London now stands at £1,538 per month, 9.5% higher than a year ago.

The UK average is 11.8% higher than for the same period last year.

All regions apart from the north-west registered increases in rents on an annualised basis over the three months to July.

In Scotland, newly agreed rents rose most, at 11.2%.