Market Update on Renting and Letting

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Commentary for January 2009
Unlike the buying/selling market, the rental market had an amazing year until September 2008. In property as one market falls another grows and if people don't buy they still need a roof over their heads, so they chose to either stay with parents/friends or rent. Up until the end of September 2008, on average rents rose by around 10% as demand outstripped supply. However, October was a different story! READ MORE

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Headline Statistics
Please find below rental performance by region from Belvoir Lettings, which has over 145 offices across the UK. The Belvoir index shows rents rising 8% per annum by the end of June 2008 and rents falling by 4% per annum by the end of October 2008 due to increased supply of properties to rent from frustrated sellers.

Region

March 2008 to June 2008

July 2008 to October 2008

London

9.7%

-2.1%

South East

1.4%

-2.9%

South West

3.4%

0.3%

West Midlands

-0.3%

-0.1%

East Midlands

0.7%

-1.9%

East Anglia

2.0%

-1.1%

Yorkshire

-3.1%

4.1%

North West

2.8%

-0.7%

North East

-0.2%

0.5%

Scotland

12.8%

-5.1%

Whole of UK

2.0%

-1.0%


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

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