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Rental Market Update for July 2010

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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

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