The private rental sector looks set for growth in the medium term, with both private and institutional landlords attracted by improving yields and strong demand.
However, landlords are finding very little market data is available to help make informed investment decisions and/or fully evaluate the performance of their property portfolios.
CLIFFTONS (exclusively to central Bournemouth) belong to one of the largest networks within the UK of Independent Estate & Letting Agents, with over 1,200 branches, giving us the ability to access information and data.
Accurate valuations and ability to understand local market conditions are fundamental to our core business and success within the local area.
The data from the rental index is sourced from 150,000 private and agent listings each week supplied by home.co.uk. The data supplied by our network, is for the first quarter January 2013 to March 2013. Rich data like this ensures the index and information is credible, accurate and a snapshot of the British UK Rental Sector and local rental markets.
The South of England remains much stronger than the rest of the country with a £121 gap between southern and most expensive northern regions. Average rents remain stable. London prices fall, stabilising at around £2,182 per month by the end of March. Rents in East Anglia and Scotland increase steadily for a second quarter. Rents in North East, East midlands, London and Wales return to 2012 levels.
In the South West, rents grew steadily throughout April 2012 to January 2013, from an average of £764pcm to the height in January 2013 of £812pcm, before falling back from January 2013 to March 2013 to £788pcm.
Rents fell back by 2% in February due to a large increase in housing supply. However, this appears to be a temporary phenomenon which can be attributed to seasonally low demand and slow property turnover in the market. In the long term, rental prices can be expected to increase at a similar rate to 2012, peaking at around £825pcm.
Having such data and understanding the local markets gives CLIFFTONS an advantage over our competitors, reacting faster and ensuring our clients receive the best advice possible, up to date rental amounts and low void periods.
For a free landlords brochure or free valuation, please contact CLIFFTONS in Bournemouth town centre on 01202 789699 or CLIFFTONS in Winton on 01202 512520.
Posted: 20th April 2013