The North sees massive variations in rent due to a wide variety of property stock. In the likes of Newcastle, properties can be rented for just £300 per month while others in the posh city areas can be over £3,000! As such as don’t hold much stall by averages in this area, especially in the North East, but the North West is a little easier to survey, so more accurate.
North West rents vary from £600 through to £650, and most of the surveys would suggest that rents are fairly static throughout the region.
When the market is static, minimise your costs and ensure you keep good tenants. Don’t skimp on maintenance as tenants want to live in a ‘home’ - not just any property. Visit our Choosing a Letting Agent Checklist.
When rents are not rising, landlords need more help maximising their returns. To attract new landlords, ensure you provide a service which is more about maximising their investment returns and not just marketing and managing a property.
If you are a landlord/tenant in the North East, rents vary from £510 up to £650 from the Move with Us quarterly index, but can reach as much as £2,000. We find average rents are 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 and if buying, make sure you read our Steps to Analysing a Buy to Let Property Checklist.
