Renting a house - the real picture

publication date: Mar 4, 2014
author/source: Kate Faulkner, Property Expert and Author of Which? Property Books
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Renting a house - the real picture

February 2014 summary and analysis of rental reports

There are a number of 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 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 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.”

Download Kate Faulkners full rental summary here, which includes:-

  • Regional rental price variations
  • Room rents
  • Capital growth and yields for landlords
  • Demand for rented property
  • Supply of rented property 

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