Rental Market Update for February 2010

Skip to Headline Statistics or Useful Resources

The rental market seems to be yo-yo'ing at the moment! One month it suggest we'll see 10% rises over the year, next 10% falls! December and January looked a bit gloomy as average rents fell, while February sees a sudden rise both year on year and month on month in many - but not all - areas. For more detail and a regional analysis READ MORE

Headline Statistics from Belvoir Lettings and FindaProperty
From Belvoir's perspective many of their 140+ offices saw an improvement in rental income and certainly interest from tenants has picked up. However some offices are finding things a little slow, hence figures still not rising as they did in Q4 2009. Read the Belvoir quarterly regional update: READ MORE

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
Average Rental Per Month	£830	£831	£820	£804	£814
Average Rental Yield	4.53%	4.56%	4.52%	4.45%	4.5%

Regional Performance:
FindaProperty Index shows a switch ffrom the North East to the North West as a top performing area with average rents up by 3.9% annually and 2.3% month on month. Closely behind is Scotland rising by 0.6% annualy and 2.5% month on month. London continues to do well with prices rising slightly both year on year and month on month.

The worst areas continue to be Yorkshire and Humber rents declining in contrast by 10% year on year although month on month rents show a small 1% growth. 

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