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Rental Market Update for April 2010

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The rental market is starting to show signs on stability. With the number of properties for rent in most areas matching the number of tenants looking for a new home. More and more areas are starting to push rents upwards - as shown by FindaProperty's index rental yields have moved slightly from 4.45% to 4.54%. 

If you are a landlord, bear in mind that in some areas even £25 lower rent per month could make the difference between renting straightaway and sitting on the market for weeks! READ MORE

Headline Statistics from Belvoir Lettings and FindaProperty
From Belvoir's perspective many of their 140+ offices saw rents fairly static, although around a third were able to show rent rises. READ MORE

Regional Performance:
FindaProperty Index shows for the first time London to be one of the best performing area, with rentls up 4.5% year on year and 0.7% month on month. North West shows great performance with prices up 6.5% YoY and nearly 1% growth month on month. Scotland continues to do well with rents up 0.9% YoY, although monthly rents show a slight fall of 0.6%.
 
The worst area continues to be the North East England, down 3.4% YoY and -1.3% month on month. Yorkshire and Humber is replaced by East of England as the next worst performing rental area with prices down by 2.5% YoY and nearly 1% down month on month.


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

Mar 10

Apr 10

Average Rental Per Month 

£830

£831

£820

£804

£814

£820

£826

Average Rental Yield

4.53%

4.56%

4.52%

4.45%

4.5%

4.5%

4.54%


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

NALS Conference Chair 2016

Kate's Consumer Portal

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