Rental Market Update for April 2010
Skip to Headline Statistics or Useful Resources
The rental market is starting to show signs on stability. With the number of properties for rent in most areas matching the number of tenants looking for a new home. More and more areas are starting to push rents upwards - as shown by FindaProperty's index rental yields have moved slightly from 4.45% to 4.54%.
If you are a landlord, bear in mind that in some areas even £25 lower rent per month could make the difference between renting straightaway and sitting on the market for weeks! READ MORE
Headline Statistics from Belvoir Lettings and FindaProperty
From Belvoir's perspective many of their 140+ offices saw rents fairly static, although around a third were able to show rent rises. READ MORE
Regional Performance:
FindaProperty Index shows for the first time London to be one of the best performing area, with rentls up 4.5% year on year and 0.7% month on month. North West shows great performance with prices up 6.5% YoY and nearly 1% growth month on month. Scotland continues to do well with rents up 0.9% YoY, although monthly rents show a slight fall of 0.6%.
The worst area continues to be the North East England, down 3.4% YoY and -1.3% month on month. Yorkshire and Humber is replaced by East of England as the next worst performing rental area with prices down by 2.5% YoY and nearly 1% down month on month.
FindaProperty
Rental Index Highlights
Key statistics | Feb 09 | Mar 09 | Apr 09 | May 09 | Jun 09 | Jul 09 | Aug 09 | Sep 09 |
Average Rental Per Month | £830 | £827 | £819 | £819 | £823 | £825 | £829 | £829 |
Average Rental Yield | 4.63% | 4.65% | 4.60% | 4.56% | 4.56% | 4.55% | 4.57% | 4.56% |
Key statistics | Oct 09 | Nov 09 | Dec 09 | Jan 10 | Feb 10 | Mar 10 | Apr 10 |
Average Rental Per Month | £830 | £831 | £820 | £804 | £814 | £820 | £826 |
Average Rental Yield | 4.53% | 4.56% | 4.52% | 4.45% | 4.5% | 4.5% | 4.54% |
For more indepth rental market views, read
Belvoir Lettings' 'Regional Rental Report';
Savills' Spotlight on Student Housing and the latest survey from
RICS.
ARLA also have latest data suggesting an increase in the number of tenants defaulting on payment.
Links to useful Renting and Letting Reports
ARLA RICS RLA NLA For more market commentary on a national or local level:-
Contact Kate Faulkner on 07974 750562 or 0845 838 1763. To read more about Kate, please visit
ABOUT US, see
Kate on video and for media appearances, contact:
Sylvia Tidy-Harris
STH Management Tel +44 (0) 1530 263221
Mob +44 (0) 7970 646872
Fax: +44 (0) 1530 264018
