Rental Market Update May 2009

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Commentary for May 2009
Well the rental market looks like it's steadying. Some areas are reporting they are desperate for landlords again, such as London, West Midlands and the South East and tenants are competing for properties to rent, while others such as the North West and Wales are still suffering from huge volumes of supply by 'accidental landlords' that wanted to sell and rented instead.

Scroll down to the bottom of the page for renting and letting articles.

For more indepth rental market views, read Belvoir Lettings' latest 'Regional Rental Report' and Savills' Spotlight on Student Housing.

Headline Statistics from Belvoir Lettings and FindaProperty

Belvoir Lettings 
Monthly rental income May 09 versus May 08 is down by 3.5%, while the last three months rental income has almost stabilised, with a fall of 1.5%.

Many Belvoir offices are now seeing a slowdown in stock from accidental landlords so rents are expected to stablise nationally by September 2009 and in areas where demand increase versus supply, prices may even rise
.


FindaProperty
Rental Index Highlights

Key statisticsFeb 09Mar 09Apr 09May 09
Average Rental Per Month 

£830

£827

£819

£819
Av Rental Yield

4.63%

4.65%

4.6%

4.56%


Belvoir Lettings Regional Data  

Belvoir Region

April 08 to
June 08

July 08 to 
Sept 08

Oct 08 to Dec 09Jan 09
to Mar 09

London

6%

-2%

-2.4%

-1.75%

South East

-3%

6.9%

-2.8%

-4%

South West

4%

-1.4%

-1.0%

-3.6%

West Midlands

-1%

0.6%

-0.8%

+4%

East Midlands

0%

1.6%

-2.6%

-2%

East Anglia

1%

-1.9%

-1.0%

+2%

Yorkshire

-2%

2.9%

1.9%

+2.9%

North West

2%

1%

-0.5%

-2.7%

North East

0%

0%

0%

-0.75%

Scotland

3%

17%

-3.8%

-0.4%

Whole of UK

0%

0%

-1.4%

-1.95%



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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