Are rents still good value for money?

Report Headlines:-
Move with Us – “Average rent in Britain to surpass £1,000 in 2014” (Jan 14 – England, Wales & Scotland)”
Belvoir Lettings – “Average rents for all offices trading over the last five years in January 2014 were £685, which is only a £2 increase on December 2013. (Jan 14 – England, Wales & Scotland)”
Acadata/LSL – “Returns for London landlords more than double the national average. (Jan 14 – England & Wales)”
Homelet – “North/south divide widens in rental market. (Jan 14 – England, Wales & Scotland)”
SpareRoom – “Overall, rents are up 1% across the UK, bringing the national average weekly room rent to £117.41. This represents an increase of 4% since last year, when the average was just over £113 a week. (Jan 14 – England, Wales, Scotland & NI)”

Kate Faulkner comments on Rental Report Headlines:
“So, all the report headlines are showing rents are flattening – mostly due to a lack of wage growth, and partly due to a bit less rental demand thanks to the upturn in the buying market. The average rents going over ‘£1,000’ from Home.co.uk may be statistically correct, but it doesn’t show the real picture. In London, rents are around £1,200 on average, while outside of London it ranges from £500-£750, so a big difference – and extremely affordable. Unlike house prices which are zooming up in value in some areas, rents are not following suit.”

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

Regional Rental Price Variations
Room Rents
Capital Growth & Yields for Landlords
Demand for Rented Property
Supply of Rented Property

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About Kate Faulkner OBE

One of the UK’s leading property experts, commentators and analysts. An author of a number of property books, including four property guides for the consumer organisation Which?. Media appearances include BBC1 Breakfast, ITV/ITN, The One Show, BBC2 Your Money, Radio 4 You and Yours, Radio 5 Live, Channel 4, plus numerous local BBC radio stations.

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