Rent, a game of two halves

The latest rental index from Findaproperty shows marked differences in the way the lettings market has been performing over the last month.

The latest figures indicate 5 out of the 11 regions experienced a rental increase.

Increases were particularly strong in London (+0.7%), South East (2.7%) and the East of England (2.0%).

In London there were rental increases in 24 out of 33 Boroughs.

The biggest increases were in Lambeth (+2.7%) £1468 pcm, Richmond Upon Thames (+2.5%) £1755 pcm, Harrow (+2.4%) £1228 pcm and Hammersmith & Fulham (+2.4%) £2,346 pcm.

The largest falls in the London Boroughs were experienced in Greenwich (-3.2%) £1,184 pcm, Merton (-2.4%) to £1,585 pcm and Lewisham (-1.8%) to £1,127.

The other half

In contrast, rents fell in the North East (-2.3%) and West Midlands (-1.4%). The heaviest falls were experienced in the North East with rents falling to an average asking rent of £605. Both regions economies are heavily orientated to manufacturing and have been badly impacted by the down turn in this sector.

The good news for Yorkshire & Humberside landlords is that rents were stable at £535 pcm. This follows a period of steep declines which has resulted in rents having fallen the furthest out of any region in the last year - down 9.3%.

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