rental prices
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Latest property news
London room rents at 7-year low
The cost of renting a room in London is the lowest it's been since 2014, new data from SpareRoom reveals.
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Latest property news
Rental trends revealed in Belvoir’s regional report
Belvoir has published its latest rental trends report which reveals a north-south divide during the final quarter of 2020.
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Latest property news
Rentrification hotspots: 12 cities outperform national rental growth
A new lettings platform, Bunk, has researched the impact of gentrification on rental prices, and highlights the opportunity for landlords.
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Resources
Rental price inflation slows
Rents across the UK continue to rise, as HomeLet research reveals, though the pace of rental price inflation has slowed considerably.
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Resources
Rental price inflation heads for zero
Rental price inflation fell to 0.7 per cent in January and is on target to fall below zero within months, the January HomeLet Rental Index reveals.
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Regional Reports
Berkshire, West London and Wolverhampton
Each month we visit three agents across the country to discover what is happening in their businesses and local markets. This month we visit Berkshire, West London and Wolverhampton.
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Housing Market
Rents cool off as tenant demand softens
Rents across England and Wales fell by an average of 0.9 per cent in November taking the average to £799 a month, according to latest buy-to-let index from Your Move and Reeds Rains. Average rents are now £17 per month below September’s all-time record high of £816pcm, reflecting a slight drop in demand from tenants seeking rental accommodation. A breakdown of the data reveals that six out of 10 regions monitored saw rents decline on a monthly basis, led by southern regions. The South East saw rents drop by 3 per cent month-on-month and they were down 2 per cent in the South West and 1.2 per cent in London. By contrast, Wales witnessed a 2.9 per cent rise in rents. They also rose by 1 per cent in the East Midlands, the West Midlands saw a 0.4 per cent increase and Yorkshire and the Humber a 0.2 per cent hike. But despite the recent fall, on average, rents have increased significantly over the past 12 months, up 4 per cent compared to November 2014, led by gains in London where rents are up 8.9 per cent year-on-year. Rents in East of England rose by 8.4 per cent. They are…
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Housing Market
Rents fall in October
Rents across England and Wales dropped by 1.2 per cent fell in October taking the average to £806 per month, according to the latest buy to let index from Your Move and Reeds Rains. Rental price falls were led by the South East where they dropped by 2.5 per cent month-on-month, followed by the South West, down 2.1 per cent, and London where they fell by 1.1 per cent. But despite the fall in rents between September and October, they remain significantly higher than a year ago, with average rents having increased by 4.7 per cent in the 12 months since October 2014. On an annual basis, London leads the way with rents 10.7 per cent higher year-on-year, while rents increased by 8.9 per cent in the East of England and 5.7 per cent in the East Midlands. By contrast, rents in Wales are 6.7 per cent lower than a year ago. With the festive season rapidly approaching, better deals will almost certainly be made available for tenants seeking to rent later in the autumn, but there has been no huge change in the supply-demand fundamentals pushing rents higher than in previous years, according to Adrian Gill (left), Director of…
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Uncategorised
Rental prices continue to rise at slower pace
Private rental values continued to rise across the UK in October, albeit at a slower pace, led by gains in Scotland, the latest HomeLet rental index reveals. It was the second consecutive month that annual rent price increases slowed below double figures, following on from six successive months of annual rent price increases of 10 per cent plus. The annual rate of growth in rental values for the UK, excluding London, has continued to slow since the July peak of 8.1 per cent, hitting an average of £749pcm in October – up 3.5 per cent compared with corresponding period last year The widening supply-demand imbalance in the market is continuing to place upward pressure on rents, with nine of the 12 UK regions seeing rent prices rise on an annual basis in October, led by growth in Scotland at 9 per cent. In contrast, rents fell by 4.9 per cent in the North West, were 2.2 per cent lower in Northern Ireland and dropped by 1.2 per cent in East Anglia. Average rents for new tenancies in London were 7.5 per cent higher than the same period last year, with the average rental value in the capital reaching £1,560pcm, which…
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Housing Market
Supply shortage leads to rise in rental prices
Private rents in the UK rose by the fastest rate in almost three years in September, as the severe housing shortage continued to place upward pressure on rental values across the UK. The latest figures from the Office of National Statistics (ONS) reveal that the cost of renting private accommodation increased by 2.7 per cent in the year to September, the biggest jump since November 2012. The biggest increases in rents were recorded in London, where prices rose by an average of 4.1 per cent year-on-year. “When people say the UK needs more homes, the true meaning is usually that London needs more homes,” said Andrew Bridges, Managing Director of Stirling Ackroyd. The increase in rental prices in the capital was almost half as much as the average rise of 2.8 per cent recorded across the rest of England, and significantly outstripped increases in Scotland of 1.6 per cent and Wales of 0.5 per cent. “For landlords and buy-to-let investors, the story has been one of consistent rental increases, with no notable dip in growth levels since 2014,” said John Goodall (left), CEO and Co-Founder of buy-to-let mortgage lender Landbay. “The big trends pushing up rents are the booming job…
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