Leeds rent prices up as Yorkshire and Humber sees 10-year rental growth high
There has been a surge of demand for properties in Leeds and Yorkshire, according to a property website.
Zoopla’s latest Rental Index has shown that rents outside London are increasing at their fastest pace in more than a decade.
In Leeds, rental growth is back into positive territory, after falling into negative territory at the start of the year.
As offices, bars, restaurants, galleries, theatres and other city centre attractions have reopened, rental demand has risen and pushed up rents
In the last three months, rents in Leeds went up 1.9 per cent.
Rental growth hit 10-year highs across the Yorkshire and the Humber (+4.9 per cent) in July.
A National Residential Landlords Association survey found that two thirds (65 per cent) of private landlords in the region reported that demand for their properties by tenants increased in the second quarter of 2021.
However, the landlord association warned that the demand is outweighing the supply of homes.
Ruth Millington, Yorkshire and The Humber Regional Representative for the National Residential Landlords Association said: “Across Yorkshire and The Humber the supply of homes is not keeping up with fast rising demand.
"The only losers will be tenants as they struggle to find urgently needed rental homes.
"The government needs to change direction and, instead of introducing measures to deter investment in the private rented sector, it must put in place policies which encourage it.”
Average rents for the UK, excluding London, were put at £790 per month, up from £752 a year ago.