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Rental Market Update for August 2010

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Kate Faulkner's rental growth predictions from last year are proving accurate with rents starting to rise rapidly in London and the South East while other areas have pretty much stopped falling.

The rental market is starting to be starved of stock again, so tenants are either choosing to stay where they are, particularly as many landlords are keeping rents the same, and with little new stock coming onto the market, the number of properties available to rent is starting to fall rapidly.

Zoopla figures show that the number of properties available on their site to rent a few weeks ago was 130,000, today (8th September 2010) it's only 100,000: that's a 21% drop in rental properties available in just a matter of weeks.

Headline Statistics from Belvoir Lettings and FindaProperty
Latest August 2010 rental figures from Belvoir who have over 140+ offices across the UK show that in most areas, rents are fairly static, whereas in London and the South East, rents are going up anything between 5-10%.

Belvoir Lettings' Rental Index August 2010

Key statistics

Jun 10

Jul 10

Aug 10

Average Rental Per Month 

£683

£682

£695


Key statistics

Oct 09

Nov 09

Dec 09

Jan 10

Feb 10

Mar 10

Apr 10

May 10

Average Rental Per Month 

£691

£684

£680

£685

£680

£680

£681

£682


FindaProperty - Rental Index Highlights

Key statistics

Aug 10

Average Rental Per Month 

Published

Average Rental Yield

Sept 10

Key statistics

Oct 09

Nov 09

Dec 09

Jan 10

Feb 10

Mar 10

Apr 10

May 10**

Average Rental Per Month 

£830

£831

£820

£804

£814

£820

£826

£839

Average Rental Yield

4.53%

4.56%

4.52%

4.45%

4.5%

4.5%

4.54%

4.57%


** Note: This Index moved from a monthly to a quarterly index

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%



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

 

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Kate's Consumer Portal

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