Analysing Rising Rents: Implications for Employee Relocations
According to the HomeLet Rental Index, rental prices in the UK have been steadily increasing, with the average rent in the UK being £1,229 per month as of June 2023. This represents a 10.4% increase from the previous year. The average monthly price in London has risen by 1.9% since last month to £2,077 PCM, which is 12.5% higher than in June 2022. Rising rents have become a significant concern, making it increasingly difficult for employees relocating to the country to find affordable housing. This article examines the main factors driving this trend, including housing supply and demand imbalances, inflation, and legislative changes, and discusses the implications for employee relocations.
