Rents jump by nearly 7% in a year

Rents jump by nearly 7% year on year: HomeLet https://t.co/ZZXRA3iKzv

— Mortgage Strategy (@MortgageStrat) August 9, 2021

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Londoners could see rents increase

Londoners could see their rents increase by a grim £370pcm on average https://t.co/Up3u6KaAIc

— Homes & Property (@HomesProperty) July 7, 2021

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Central London: reduced rents

House hunting? 🏠 https://t.co/tYVAeVCCHx

— Homes & Property (@HomesProperty) April 14, 2021

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Prime city rental data: Savills

How has prime #rental growth performed across the 30 cities in our index and where are the most expensive locations to rent? Savills research takes a look: https://t.co/UtYjTeRuSL pic.twitter.com/UGzpugGd12

— Savills (@Savills) February 18, 2021

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ONS private rental data

Private rental prices paid by tenants in the UK rose by 1.4% in the 12 months to December 2020; no change since October 2020 https://t.co/5UGf4sz2N7 pic.twitter.com/Sezz5kBzVh

— Office for National Statistics (ONS) (@ONS) January 20, 2021

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Average London rents dip 3.7%

Average rents in London dipped by 3.7% on last year, view the latest data, including rents by Borough 🏙️ https://t.co/u0SVK9usqS pic.twitter.com/UYMDFuoMqb

— HomeLet (@HomeLet) November 4, 2020

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ARLA PRS Report for August

Propertymark’s Private Rented Sector Report for August shows a record-breaking month with the number of new prospective tenants continuing to rise. Read our full report here: https://t.co/AerhiTYojw#PRS #report #agents #landlords #rentedproperty pic.twitter.com/ZHz1kbNAF0

— ARLA Propertymark (@arla_uk) October 5, 2020

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Prime London rents start to recover

Prime London rents started to show signs of recovery over 2019 in a market of low stock and steady demand.

Read the latest Savills research here: https://t.co/cmp1qnGrNx pic.twitter.com/BK9b0JQMum

— Savills (@Savills) February 5, 2020

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Feb is the worst month to secure high rents

It's official: February is the worst month to secure a good price when renting out a home…

If you're a buy-to-let landlord, read @MariannaHunt5's analysis of when to put your #property on the market to get the most for your money https://t.co/MrKTprDBrJ

— Telegraph Property (@TeleProperty) February 3, 2020

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High rents in London vegan friendly areas

Rents comfortably top the London average in districts that cater particularly well for plant-based lifestyles: https://t.co/pSRFH3TpOJ

— ES Homes & Property (@HomesProperty) January 30, 2020

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PRS tenants stay put for longer

ICYMI: The government’s #EnglishHousingSurvey for 2018-19 published last week shows that the average length that a private sector tenant lived in their current rental property was 4.4 years. This is UP from 4.1 years in 2017-18. https://t.co/jWBnCQTVY6

— RLA Landlord News (@RLA_News) January 27, 2020

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Falls in income spent on rent: ICYMI

ICYMI: Stats show income spent on rent fell between 2016-2019 - https://t.co/u8iMlY87nb #ukhousing pic.twitter.com/CC89oQmuhV

— 24housing Magazine (@24housing) January 26, 2020

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The latest DPS Rent Index

Higher wages and lower deposits help take sting out of renting, says The DPS in its latest Rent Index

The proportion of income that tenants spent on rent decreased between 2016 and 2019 despite increases in rental levels, according to The Deposit Protection Service (The DPS).

In the latest edition of its Rent Index, the largest protector of deposits in the UK compares rent levels across the country with averages salaries and reveals that the average proportion of wages spent on rent fell from 32.64% in 2016 to 30.64% in 2019.

The DPS said that various factors had helped improve the affordability of renting during the period, including a 2.69% increase in average salary (from £29,559 to £30,353) and a £77 decrease in average tenancy deposits (from £905 to £828) since the introduction of the deposit cap in June last year.

Matt Trevett, Managing Director of The DPS, said: “Although rents have risen over the past decade, other changes since 2016 have helped ensure renting has become on average more affordable. 

“Predictions that rents would rise in response to the introduction of the tenant fees ban and deposit cap do not seem to have materialised, with many landlords seemingly declining to increase rents since last summer.” 

The DPS Rent Index, which is published quarterly and is based on The DPS database of millions of properties across the UK, also showed that average rents reached a peak of £777 during the third quarter of 2019 (Q3 2019), before decreasing marginally by £4 to £773 during the following quarter.

Paul Fryers, Managing Director at specialist buy-to-let mortgage provider Zephyr Homeloans, which like The DPS forms part of the Computershare Group, said:  “Although the longer-term recovery in rental levels is likely owing to broader economic factors, changes to rental figures are also more likely at moments where property changes hands.

“Over the last couple of years, professional landlords have become a larger proportion of the buy-to-let market as more and more smaller or ‘accidental’ landlords sell up, partly as a result of increasing costs.”

Northern Ireland saw biggest increase in average monthly rents (3.01%) from £532 to £548 during Q4 2019, while average monthly rent in Yorkshire and The Humber decreased the most, from £551 to £524 (4.90%). 

                                                                         

London continues to be the most expensive rental region in the UK, with average monthly rents standing at £1,345 in Q4 2019 – over two and a half times the amount (£518) paid in the UK’s cheapest region, the North East, during the same period.

Excluding London, average monthly rent during the last quarter of 2019 stood at £672, said the report.

Detached properties saw the largest increase (0.81%) in average monthly rents, from £990 to £998, in Q4.

Monthly rents for terraced houses declined the most during the quarter, falling 0.55%, from £732 to £728.

Average rents increased by 20% between 2010 and 2019, but only by 1% between 2016 and 2019, according to figures from The DPS.

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75% of income required to rent

75% of income required to rent in parts of England – here’s how it’s changed in the last 20 years

The latest research by lettings and sales agent, Benham and Reeves, has revealed the amount of net income required to cover the cost of renting has increased +16.8% in the last two decades to 45.5% nationally, now accounting for 74.8% of the average salary in London having jumped +33.7% since the turn of the millennium. 

The research shows that 20 years ago, the average rent accounted for 28.7% of the average income in England. This was, of course, higher in London where 41.1% of income was required to cover rent, with the South East (31.2%) and South West (29.4%) also amongst some of the highest of all regions. 

Today, the proportion of income required to cover the cost of renting has increased by +16.8% across England to 45.5%.  

Again, London has seen the most drastic increase with an eye-watering 74.8% of the average income now required to cover the average cost of renting – a +33.7% increase in the last 20 years.  

The East of England has seen the second largest increase in that time, up +18.7% , while the South East has seen the third largest increase (+18.6%) and is currently home to the second largest income to rent ratio at 49.8%.  

20 years ago, the East Midlands was home to the lowest income to rent ratio with 24% of earnings required for the average rent, today the North East is home to the most favourable ratio at 32% and has also seen the smallest increase in the last 20 years (7.4%). 

Director of Benham and Reeves, Marc von Grundherr, commented: 

“There’s been plenty of positive changes to the rental market in the last 20 years with better codes of practice and improvements through technology allowing for a fairer, more transparent process for both landlords and tenants.  

Unfortunately, the one thing this can’t address is the huge demand for rental properties and the resulting increase in the cost of renting as a result and with wage growth failing to keep pace, the proportion of our earnings required to cover rent has spiked notably since the turn of the millennium.”

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Biggest rental price changes

Biggest rental price changes across the UK revealed https://t.co/aZqsZ17vwf pic.twitter.com/nWeaMfHCEG

— Mortgage Introducer (@MortgageChat) December 18, 2019

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Regional PRS data : RLA

Our first take on the #ONS #IPHRP data is now on our web-site. This includes our take on the strengthening #PRS in London. https://t.co/tprkHB4mCE. A more detailed analysis to follow. @RLA_News @RlaWales pic.twitter.com/dsdzueOILo

— RLA PEARL (@RLA_PEARL) December 18, 2019

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Rents drop to lowest level since March: Arla

Rents drop to lowest level since March: Arlahttps://t.co/eJGLYq2nVV

— Mortgage Strategy (@MortgageStrat) December 18, 2019

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Average monthly rent hits fresh high

Average monthly rent hits fresh high - https://t.co/K0u1EXkGXp The average monthly rent hit £700 in England between October 2018 and September 2019 – a new high for the figure, according to the...

— Mortgage Solutions (@mortgagesols) December 17, 2019

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Average rents climb 3.2%: HomeLet

Average rents climb 3.2%: HomeLet https://t.co/II7YGq8TzO

— Mortgage Strategy (@MortgageStrat) December 16, 2019

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Average rents climb 3.2%: HomeLet

Average rents climb 3.2%: HomeLet https://t.co/II7YGq8TzO

— Mortgage Strategy (@MortgageStrat) December 16, 2019

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