West Midlands boasts strongest regional rental growth

 

Rent in the West Midlands has increased by 4% across the past year from April 2018 to April 2019.

Your Move recently released data showing the rental market in England and Wales continues to grow steadily. And during April, average rents increased to £861 per month, which is a 0.5% rise from last April.

Regional rental markets

With the strongest rental growth, the West Midlands saw rents rise to £641 per month in April. The region overtook the south-west, which featured a 3.7% increase in rental prices. Yorkshire & The Humber came in at third with a 2.5% rise in rental prices. Rental room costs in Leeds have even increased by 50% annually, according to a recent report from ideal flatmate.

The figures from Your Move revealed the north-west racked up a 2.3% increase in the year to April, while the East Midlands had a growth of 2.2%. These numbers reveal the Midlands and north are seeing steady growth in rental prices, while prices have dropped in London by 1.1% and by 2.2% in the east.

Martyn Alderton, director of national lettings at Your Move, stated: “It is the areas which have seen periods of strong growth in recent years, such as London and the East of England, which have dropped back slightly. Other areas of the country, including the West Midlands, are starting to catch up and are growing at an attractive rate.”

Stable investment returns

The north of England continues to offer the highest yields. Investors with properties in the north-east saw an average return of 5% and those with properties in the north-west averaged 4.8%.

Between March and April, property investors had stable returns across the board. The average rental yield for investors in England and Wales amounted to 4.3% in April, which was the same for the month of March.

“Regardless of the short-term rent fluctuations the property market remains a great place to invest, with landlords also enjoying stable returns compared to last month,” Martyn Alderton commented.

According to VeriSmart, the annual value of England’s rental market is an impressive £66.7bn. Last year, every region of England boasted above average investment volume, and property investment specifically in the north-west reached the highest level in over a decade. These figures show England’s rental market continues to be a popular investment choice.

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

build-to-rent Birmingham map of west Midlands

West Midlands boasts strongest regional rental growth

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.