In London during late 2020, as the pandemic hit the demand in big cities the rents hiked by more than 6% and they increased by 10.9% over the past year.
In 2021 most landlords in Britain hiked the rents they advertise to new tenants. During the three months to December 2021, average residential rents for homes advertised on property website Rightmove were 9.9% higher than in the same quarter a year earlier.
According to the Rightmove rents in Britain would rise by a further 5% in 2022, due to lack of available properties for renters. Also, as per the statement passed by the Royal Institution of Chartered Surveyors last week, rents in Britain would rise this year.
As per the data of Britain’s statistics office, private rental prices across the United Kingdom increased by 1.8% in the 12 months to December, which is the fastest increase since mid-2017. That covers all rental contracts including new ones.