Is the Housing Rental Market starting to stabilise?

publication date: Jun 4, 2010
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books

Is the Housing Rental Market starting to stabilise?

The housing rental market is starting to show signs on stability. With the number of properties for rent in most areas matching the number of tenants looking for a new home. More and more areas are starting to push rents upwards - as shown by FindaProperty's index rental yields have moved slightly from 4.45% to 4.54%. 

If you are a landlord, bear in mind that in some areas even £25 lower rent per month could make the difference between renting straightaway and sitting on the market for weeks! READ MORE

Headline Statistics from Belvoir Lettings and FindaProperty
From Belvoir's perspective many of their 140+ offices saw rents fairly static, although around a third were able to show rent rises. READ MORE

Regional Performance:
FindaProperty Index shows for the first time London to be one of the best performing area, with rentls up 4.5% year on year and 0.7% month on month. North West shows great performance with prices up 6.5% YoY and nearly 1% growth month on month. Scotland continues to do well with rents up 0.9% YoY, although monthly rents show a slight fall of 0.6%.
The worst area continues to be the North East England, down 3.4% YoY and -1.3% month on month. Yorkshire and Humber is replaced by East of England as the next worst performing rental area with prices down by 2.5% YoY and nearly 1% down month on month.

For more indepth information and analysis on the property rental market, read Kate's Rental Market Update.

Thinking of buy to let or investing in property, then don't make a move without purchasing our Buying and Renting a Buy to Let Property Pack to avoid mistakes and ensure you stay on the right side of the law!

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