Potential Buyers Still Opting to Rent

There are over five regular monthly rental sector reports. Some cover the UK and some cover just England and Wales. This is a summary of the report headlines and latest data together with Kate Faulkner’s commentary on the implications for landlords and tenants:-

Report Headlines:-
Move with Us – “Average cost of renting a property in Britain increased by just £7 (0.75%), in October. (Oct 13 – England, Wales & Scotland)”
Belvoir Lettings – “Average rents in October 2013 were £686, a slight fall from September of £689 and just above a 1% increase year on year for all offices trading over the last five years. (Oct 13 – England, Wales & Scotland)”
Acadata/LSL – “Late rent lowest since 2008. (Oct 13 – England & Wales)”
Homelet – “In October the average cost of renting a home in the UK decreased by 4.6% to £815 per month. However, UK rental amounts are still an average of 2.7% more than in October 2012. (Oct 13 – England, Wales & Scotland)”
Sequence Group – “Rents increase to 41% of earnings. (Oct 13 – England, Wales & Scotland)”
SpareRoom – “Average room rents have increased by 4% since 2012, with the average double room now costing £116 a week including bills.

Kate Faulkner comments on Rental Report Headlines:
“Rental reports continue to suggest a rather contrary market place. Overall, reading the surveys and listening to landlords, it appears in the main that rents are pretty stable in most places at the moment. However, most surveys seem to agree that even if rents are rising, this increase is running behind inflation year on year bar room rents which appear to be just beating inflation on a national basis.”

Read the full version of Kate Faulkner’s latest Rental Summary here, which includes:-