The North East rental averages can be quite erratic as property rents can range from around £300 to in excess of £2,000 a month, so recording an ‘average’ and understanding ‘trends’ is tough.
LSL recorded a slight increase year on year at 1.4%, Belvoir rents were static at -0.2%, Move with Us a small fall of -2.2% and Homelet a fall of -4.4%.
So, all the reports pretty much suggest rents in the North East are static to falling.
If you are a landlord/tenant in the North East, monthly rents vary from £500 up to just over £700 from the Move with Us quarterly index. Average rents can be pretty irrelevant for this area, due to the diverse mix of property types and rental values in the region. So it’s essential, whether you are a landlord or tenant, to find out what’s happening to rents in your area – are they rising, falling or stable?
If buying, make sure you read our Steps to Analysing a Buy to Let Property Checklist.
The North West figures vary across the three indices, from very little change in year on year rents with Belvoir showing a small fall of -2.7%, Move with Us a slight fall of -0.6%, LSL a 0.5% increase and Homelet are completely on a ‘limb’ versus everyone else, suggesting a large rise of 8.9%.
North West rental reports are recording static to falling values towards the end of 2013.
If you are a landlord/tenant in the North West, rents vary from £580 through to £675 from the Homelet index. The surveys recorded a slightly mixed picture in terms of rental increases and falls, ranging from falls of around 3% from Belvoir, through to well above inflation rises of 9% via Homelet.
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