Rental Market Update for July 2010

Skip to Headline Statistics or Useful Resources

The story on rents will continue to be that of stabilisation in many areas coupled with some increasing rental averages in areas which continue to benefit from economic recovery, such as London.

However, it's likely that there could be some pretty big rises in rents once people start moving again and go back to their old ways of moving every 12 - 18th months. The percentage of people renting is at it's highest for some time, with nearly 50% of 20-24 year olds renting privately. As more renters come onto the market, the number of properties for rent isn't expanding, so it's likely to hit over the next six to 12 months. Good news for landlords, not so good for tenants!

Headline Statistics from Belvoir Lettings and FindaProperty
From Belvoir's perspective many of their 140+ offices rents remain fairly static, across all regions, bar the North West.

Belvoir Lettings' Rental Index

Key statistics	Jun 10	Jul 10
Average Rental Per Month	£683	£682

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