Rental Market Update for January 2010

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The rental market continues to fall following Xmas and a rather snowy month! Both Both FindaProperty and Belvoir Lettings show rents dropping back. FindaProperty rents suggest prices have fallen back in January to levels not seen in 2009. As with house prices, rental price movements 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 January has seen a continuation of the fall, but this many be due to re-pricing of properties that were previously rented out at higher levels until the increased stock from frustrated sellers hit. As a result it may well be just a blip for a month or two. Read the Belvoir regional update: READ MORE

FindaProperty
Rental Index Highlights

Key statistics	Oct 09	Nov 09	Dec 09	Jan 10
Average Rental Per Month	£830	£831	£820	£804
Average Rental Yield	4.53%	4.56%	4.52%	4.45%

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%

Regional Performance:
FindaProperty Index shows that annually the top performing areas have been Wales, which hasn't performed this well for some months and the South West of England.  This month the Wales also showed an increase of just over 1% month on month. The worst areas remain the same this month with Yorkshire and Humber rents now declining by 12% year on year. Meanwhile London rents seem to have settled down and continue 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