Rental Market Commentary for June 2009
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Well the rental market looks like it's steadying. Some areas are reporting they are desperate for landlords again, such as London, West Midlands and the South East and tenants are competing for properties to rent, while others such as the North West and Wales are still suffering from huge volumes of supply by 'accidental landlords' that wanted to sell and rented instead.
Scroll down to the bottom of the page for renting and letting articles.
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 while negotiating rents downwards is on the increase!
Headline Statistics from Belvoir Lettings and FindaProperty
Belvoir Lettings
Monthly rental income May 09 versus May 08 is down by 3.5%, while the last three months rental income has almost stabilised, with a fall of 1.5%.
Many Belvoir offices are now seeing a slowdown in stock from accidental landlords so rents are expected to stablise nationally by September 2009 and in areas where demand increase versus supply, prices may even rise.
FindaProperty
Rental Index Highlights
| Key statistics | Feb 09 | Mar 09 | Apr 09 | May 09 | June 09 |
| Average Rental Per Month | £830 | £827 | £819 | £819 | £823 |
| Average Rental Yield | 4.63% | 4.65% | 4.6% | 4.56% | 4.56% |
Belvoir Region | April 08 to
June 08 | July 08 to
Sept 08 | Oct 08 to Dec 09 | Jan 09
to Mar 09 |
London | 6% | -2% | -2.4% | -1.75% |
South East | -3% | 6.9% | -2.8% | -4% |
South West | 4% | -1.4% | -1.0% | -3.6% |
West Midlands | -1% | 0.6% | -0.8% | +4% |
East Midlands | 0% | 1.6% | -2.6% | -2% |
East Anglia | 1% | -1.9% | -1.0% | +2% |
Yorkshire | -2% | 2.9% | 1.9% | +2.9% |
North West | 2% | 1% | -0.5% | -2.7% |
North East | 0% | 0% | 0% | -0.75% |
Scotland | 3% | 17% | -3.8% | -0.4% |
Whole of UK | 0% | 0% | -1.4% | -1.95% |
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
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