Britain’s rents increased by 1.1% yearly, but dropped in London

 

Residential rents now average at £950 per month across the country as they have increased by 1.1% over the last 12 months, the latest Countrywide data shows.

However, as per usual, prices vary quite widely in different regions. England’s South West experienced an increase in rental costs of 4.6% year-on-year (up to £786 per month), which indicates the biggest annual increase across the country.

https://www.buyassociation.co.uk/2017/07/17/uk-private-rented-sector-doubled-since-1990s/

Countrywide’s monthly lettings index also showed that average rents rose by 2.8% in England’s East, by 2.3% in the Midlands and England’s North, by 1.4% in Scotland, by 1.1% in the South East of England and by 0.1% in Wales.

Only London saw a drop in rental costs of 0.8%.

The number of overseas landlords has also dropped according to the report. Whilst 12% of landlords were foreigners in 2010 the number is now down to 5%.

Again, the capital has seen the biggest decrease as overseas landlords investing in the capital have dropped from 26% in 2010 down to 11% now.

The number of Europeans owning investment property in the UK has been dropping gradually over time, more so than from any other part of the world. Whilst they made up 39% of all overseas landlords in London in 2010 this number has now dropped down to 28%.

Asian investors are now London’s biggest landlord base at 33%, followed by Europeans at 28%, North Americans at 10% and Middle Eastern at 9%.

Outside of the capital, however, Europeans are still the biggest landlord group with a total of 37%.

https://www.buyassociation.co.uk/2017/07/10/supply-rental-properties-might-rising-rents/

Overseas based landlords earned, on average, 35% in rent over the last year than local landlords did and more than 50% of this income came from rental property located in London.

Johnny Morris is the research director at Countrywide and gave some more insight into the findings:

“Falls in London were off-set by higher growth across the rest of the country. The fall in the capital was driven by lower rents in the outer areas of London as the ripple effect from falling rents in central London continues.”

Highgrove Mews

High Net Yield Freehold Houses

  • Commutable to London (27 mins to central Paddington station)
  • Rental demand extremely strong with large industry presence in Reading
  • Freehold with 4% net yield

£284,955 - £457,000

St Petersgate – Stockport Manchester

New Launch - Stockport Manchester, apartments from £160,000

  • Discounted launch prices from £160,000
  • Excellent transport links with 3 trains per hour to London Euston and only 9 mins journey to Manchester Piccadilly
  • Experienced development team

Assured Rent Housing Association Leases

Assured Rent Housing Association Leases

  • Assured rent & no rental voids
  • Tenant damage cover & newly refurbished inline with requirements of a corporate sitting tenant
  • Free property and lettings management

From £62,000

Emerging Birmingham Commuter Town With Properties From Just £104,000

The emerging Birmingham commuter town where properties are selling in an average of just 24 days

  • A collection of 62 two bedroom apartments and 28 one bedroom apartments.
  • DE14 is one of the fastest selling postcodes in the West Midlands.
  • 23 minute train journey into Birmingham New Street Station.

Properties from £104,000

Mill, Stockport

The Northwest's emerging property hotspot

  • Discounted off-plan 2-bed prices from £162,000
  • Completion date - Q4 2021
  • Rental yields - 6% plus

Discounted off-plan 2-bed prices from £162,000

South Central – Birmingham City Centre Apartments

Highly anticipated 28 storey launch in Birmingham City Centre with an impressive roof garden and communal facilities.

  • 154 units across 28 storeys
  • Residential multi-media community room, gym, roof garden and sky cinema
  • Excellent future connectivity via the metro system to other key transport hubs and locations around the city

from £205,800

ba-

Talk to us

Speak to our UK property experts today: 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

+852 9865 4446

Open from 9am-6pm HKT

Stamp Duty Calculator

.

Unlock members only investment opportunities and full development details. Join now – it’s free, quick and easy.

Login

Not a member? Sign up for free

Britain’s rents increased by 1.1% yearly, but dropped in London

Britain’s rents increased by 1.1% yearly, but dropped in London

Example

By submitting your details via this online form you agree to be contacted via email/phone/SMS by Direct Marketplace Ltd t/a BuyAssociation in relation to property investment and property developments . We do not share your personal details with third parties.  To view our full Privacy Policy click here.