Download

Rental Market Update for September 2010

Skip to Headline Statistics or Useful Resources

Having predicted that rents will rise this year, this is certainly coming through in areas such as London and the South East where rental prices are pushing upwards of 10%.

It is important to put this rise into context though, as it only means prices are heading back towards the heights of the Summer 2008, prior to lots of accidental landlords flooding the market and reducing rents throughout most of 2009.

The outlook for the future is more rent rises. As landlords start to feel the pinch on mortgage costs (currently some lenders are apparently looking at only offering repayment only mortgages, not interest only) and the effect of inflation, higher taxes etc comes through, they will start increasing their rents and as more tenants flood onto the market as fewer people buy property, they will start to increase rents as much as possible.

If you are a tenant: rent something this side of Xmas if you can!
If you are a landlord: look at putting up your rent if you can to protect your income.

Headline Statistics from Belvoir Lettings and FindaProperty
Latest September 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%.

READ MORE - Rental Market Quarterly Regional Statistics - Q3 2010

Belvoir Lettings' Rental Index September 2010

Key statistics

Jun 10

Jul 10

Aug 10

Sep 10

Average Rental Per Month 

£683

£682

£695

£700


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

Q3 10

Average Rental Per Month 

£851

Average Rental Yield

4.69%

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

 

NALS Conference Chair 2016

Kate's Consumer Portal

Propertychecklists.co.uk

FREE Buy to Let eBooks

Download a copy of our
Buy to Let Show eBooks
for FREEsimply click on
the image below

Buy to Let Show - download our Buy to Let eBook for FREE