What’s Happening to Room Rents?

publication date: Feb 18, 2013
 | 
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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What's Happening to Room Rents?

With a large number of landlords looking to improve their rental returns by renting out rooms, it is useful to look at what’s happening to room rents on a regional basis. This analysis will be particularly useful over time as it allows us to monitor the impact of additional licencing by local authorities such as Oxford.

Regional Weekly Average Room Rents

Looking at the above chart, Spareroom indicate that average room rents in key areas have increased year on year, and when you take into account the fact that most rooms include utility bills, which have gone up consistently over the last few years, this is not a huge surprise. Edinburgh, London and Oxford registered the highest rises at 6.6%, 4.8% and 4% respectively, with the remaining areas of Cardiff, Nottingham, Bristol and Newcastle only showing slight rises, ranging from 1.3% through to 2.5%.

Comparing quarterly average room rents from Easyroommate, these indicate significant quarterly increases in Edinburgh (36.9%), Newcastle (34.6%) and Bristol (15.3%). However, Oxford’s room rental rate dropped by -5.8% over the last quarter and in London, Cardiff and Nottingham, room rents remained the same as the previous quarter.

Property investors interested in renting rooms should study closely the demand and average price information available from Spareroom, the UK's leading flatshare website. For a free renting by the room checklist sign up to Property Checklists and one you’ve signed in visit: Renting by the Room Checklist

For more statistics on the buy to let market, investor returns, reviews and research, subscribe to the UK’s only residential market property information portal at Designs on Property for just £129.95 + VAT. Contact amanda@designsonproperty.co.uk for more information.


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