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The average rent in London is now £2,121 per month after +4.2% growth in the last year. The cheapest average rent is in Bexley (£1,520) and the highest average rent is in Kensington and Chelsea (£3,459), although rental increases are slowing in the most expensive parts of the city.
The average rent in the UK is now £1,223 per month after 7.2% growth in the last year. The highest average rent in the UK is in London (£2,121) while the North East has the lowest monthly rent (£695).
Seller discounts narrow in spring 2024 as more sales are agreed. Momentum is growing in the housing market and house prices don't need to fall further to support the continued recovery in sales.
House price falls slow to -0.3% and market activity improves with more sales, lower discounts and greater choice. Here’s the latest on the UK housing market from the Zoopla House Price Index for March 2023.
The average UK rent is now £1,223 after a +7.8% rise in the last year. Rents for new lets will rise more slowly this year, but only a major supply boost will help with rental affordability.
9 in 10 homeowners who sold up in 2023 made 25% in profit, with the average seller of a £275,000 property earning £74,000. How much money did your home make?
It was a disappointing Budget for anyone hoping for measures to help home buyers and mortgage borrowers but tax changes announced could have a small impact.
National insurance cut from 10% to 8%, Child Benefit threshold raised to £60,000, fuel duty frozen and inflation on track to hit 2% target in the next quarter.
New reforms requiring planning permission for short term holiday lets could come into force as early as this summer under new government proposals.