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Rental Market Update for November/December 2009


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The rental market seems to have taken a step backwards this month. Both FindaProperty and Belvoir Lettings show rents dropping back. Belvoir by only a small amount, FindaProperty back to levels last seen in May 09.  

As with house prices, rental prices vary dramatically on a regional basis.  READ MORE

Headline Statistics from Belvoir Lettings and FindaProperty
From Belvoir's perspective many of their 140+ offices have seen an improvement in rental income and the number of tenants hunting for property. December has seen a slightly unexpected slowdown, however with a lack of stock coming onto the market this is likely to pick back up in 2010. Read the Belvoir regional update: READ MORE

FindaProperty

Rental Index Highlights

Key statistics

Feb 09Mar 09Apr 09May 09Jun 09Jul 09Aug 09Sep 09
Average Rental Per Month£830£827£819£819£823£825£829£829
Average Rental Yield4.63%4.65%4.60%4.56%4.56%4.55%4.57%4.56%

Key statistics

Oct 09Nov 09Dec 09
Average Rental Per Month £830£831£820
Average Rental Yield4.53%4.56%4.52%

Regional Performance:
FindaProperty Index shows that annually the top performing areas have been the North East England and the South East of England, whereas this month the East Midlands rents took a big 2.3% jump in rental prices and Wales which also showed increased growth. The worst areas have changed too, with Yorkshire and Humber rents declining nearly 11% year on year. London rents continues to show a small rise year on year.

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 while negotiating rents downwards is on the increase!

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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