Rental Market Update for November 2010
Skip to Headline Statistics or Useful Resources
Property rental income offered a mixed performance across the UK in November as tenants across the country tended to concentrate more about Xmas than finding somewhere new to live!
Many areas are likely to have a relatively quiet month in December and rents tend to suffer a small seasonal downturn. However, rents will end up substantially higher at the end of 2010 than at the start and due to a stock shortage predicted in many areas, moving forward, we are likely to see a busy January 2011 and rises throughout the year.
From a landlord's perspective, the signs are that for 2011 there may be some easing of finance for Buy to Let investors who are cash rich and have a proven track record, which may help add much needed rental stock in some areas.
Should Tenants Buy to Let in Affordable Areas?
It may be for those tenants that rent in areas that they can't afford to buy in the long term, that looking at 'buying to let' in other nearby, affordable areas may be one of the few ways they can look to afford to purchase a home long term.
If you are a tenant: rent something this side of Xmas if you can!
If you are a landlord: check out your portfolio, should you be buying, selling or holding?
Headline Statistics from Belvoir Lettings and FindaProperty
Latest November 2010 rental figures from Belvoir who have over 140+ offices across the UK show that in most areas, rents are static or rising, 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 November 2010
Key statistics | Jun 10 | Jul 10 | Aug 10 | Sep 10 | Oct 10 | Nov 10 |
Average Rental Per Month | £683 | £682 | £695 | £700 | £703 | £676 |
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, download
Savills' Spotlight on Student Housing and the latest survey from the
RICS and
ARLA.
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