The UK’s Top 15 for Rental Rise

The UK’s Top 15 for Rental Rise

New data reveals UK cities where rents are rising the fastest. Be warned, it’s not London.

The highest increase in the country was registered in Bristol and Brighton, both seeing an average rise of 18% in rents in 2015 compared to the year before.

According to the insurance company HomeLet, the closest followers were Newcastle and Edinburgh, both seeing a rise of 16% in average monthly rents.

London’s rent only increased by 11% in comparison, but it still remains the priciest city to rent with average rents of £1,596 in Greater London.

The figures are based on tenancies signed last year compared to those signed in 2014 and take into account the average rents of the UK’s 15 biggest cities.

Martin Totty, head of HomeLet’s parent company Barbon Insurance Group, said: “Beneath the headline figures, HomeLet’s data points to some significant variations in rental market performance in 2014, both from region to region and from town to town.”

“In locations such as Brighton and Bristol, demand for rental property appears to have been particularly strong and rents on new tenancies jumped very markedly. In other areas, we saw slower growth.”

Hannah House, a branch manager at estate agent Chappell and Matthews in Bristol, said: “We believe the increase in rental prices seen in 2015 is due to number of key factors. Such as, Bristol offers a great mix of accommodation from period to contemporary living, as well as being a city bursting with culture and entertainment.”

“Many people move to Bristol seeking new job opportunities, whether this is in the local hospitals, universities, pubs, cafes and restaurants. In addition, Bristol is a location which provides an easy travel commute into London, Wales and the South West appealing to young professionals and families.”

Mr Totty addded: “Rents in London have continued to rise more quickly than in most areas of the country, but not at quite the pace of 2014; meanwhile, average rents outside of the capital rose more quickly last year than in 2014. As a result, we saw a narrowing of the rent inflation gap between London and the regions last year.”

Source: The Telegraph

Self-certified Sophisticated Investor

Please read

I declare that I am a self-certified sophisticated investor for the purposes of the restriction on promotion of non-mainstream pooled investments. I understand that this means:

I am a self-certified sophisticated investor because at least one of the following applies:

I accept that the investments to which the promotions will relate may expose me to a significant risk of losing all of the money or other property invested. I am aware that it is open to me seek advice from someone who specialises in advising on non-mainstream pooled investments.

High Net Worth Investor

Please read

I make this statement so that I can receive promotional communications which are exempt from the restriction on promotion of non-mainstream pooled investments. The exemption relates to certified high net worth investors and I declare that I qualify as such because at least one of the following applies to me:

STAY AHEAD OF THE MARKET

Sign-up for first access to new developments and exclusive property investment opportunities.

We send limited and targeted emails on new launches and exclusive deals which best fit your areas. We are trusted by over 30,000 active buyers as their source for new stock.

  • New property developments
  • Professional market reports
  • Property deal alerts
  • Development updates

FIRST FOR NEWS AND KNOWLEDGE.

Receive trending news straight to your inbox and stay up to date on all of the property market trends and advice.

Established since 2005 we are a leading voice of authority and commentary on the UK property market. Our news is trusted by Apple News & Google News.

  • UK housing market
  • Mortgage & money
  • Buy-to-let landlords
  • Guides & advice

Talk to us

Speak to our UK property experts today:

 

+44 (0) 333 123 0320

Open from 9am-6pm GMT

 

+852 6699 9008

Open from 9am-6pm HKT