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Manchester buy-to-let rents fall but by 1.3% over the year.
Residential rents in Manchester have held up well despite the economic slump in the last year according to website the Rentindex. The average rent in Manchester is now £520 compared to £527 in 2008.
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This compares to the national average rent which is currently £590. This puts the average residential rents in Manchester at 88% of the national average.
Rentindex analyses nearly 5000 residential tenancies created over a three month period to produce the daily updated Rentindex. Nationally rents have risen 1.9% over the last 3 months but fallen 0.6% over the year.
Average rents for a 1 bed property in Manchester is currently £402 whilst a 2 bed property rents for £550.
Chris Horne from the Rentindex comments: “Manchester like many regional centres has been suffering from an over supply of rental accommodation, especially in the city centre. This has helped to keep down rents as landlords compete to fill vacant property.”
The Rentindex provides the only real time measurement of UK residential rents and aims to provide a barometer of the state of the rental market in the same way that the stock market measures the health of the economy.
Residential rents in Manchester have held up well despite the economic slump in the last year according to website the Rentindex. The average rent in Manchester is now £520 compared to £527 in 2008.
Landlord insurance - professional rates - instant quotes
This compares to the national average rent which is currently £590. This puts the average residential rents in Manchester at 88% of the national average.
Rentindex analyses nearly 5000 residential tenancies created over a three month period to produce the daily updated Rentindex. Nationally rents have risen 1.9% over the last 3 months but fallen 0.6% over the year.
Average rents for a 1 bed property in Manchester is currently £402 whilst a 2 bed property rents for £550.
Chris Horne from the Rentindex comments: “Manchester like many regional centres has been suffering from an over supply of rental accommodation, especially in the city centre. This has helped to keep down rents as landlords compete to fill vacant property.”
The Rentindex provides the only real time measurement of UK residential rents and aims to provide a barometer of the state of the rental market in the same way that the stock market measures the health of the economy.
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1 comment:
I’m a first time landlord. My tenat called me and wanted me to clear a bathtub drain for the 3rd time after I told her to use a strainer I provided. On the same call she said she had roach baits and mouse traps she put down and I needed to to get the dead mouse out the house and change the roach baits and if that wasn’t enough she wanted me to pay her for the baits and mouse traps. If I had only known renting a house means for me to empty traps I would have never ventured into it!
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