Thursday, June 5, 2025
18to10k
  • Home
  • Make Money
  • Affiliate Marketing
  • Social Media
  • Real Estate
  • SEO
  • Side Hustle
  • Dropshipping
No Result
View All Result
18to10k
No Result
View All Result
Home Real Estate

Over half of UK rented homes are in areas with £1,000 a month average rents

Admin by Admin
May 2, 2024
in Real Estate
0
0
SHARES
27
VIEWS
Share on FacebookShare on Twitter


Keep knowledgeable with free updates

Merely signal as much as the Property sector myFT Digest — delivered on to your inbox.

READ ALSO

Ackman pushes Fannie and Freddie’s odd economics to the limit

Can you still make money from UK property?

Greater than half of rented houses within the UK are in markets with common rents of over £1,000 monthly, underlining how excessive demand amongst tenants is straining affordability.

The variety of rental houses falling into the higher-rent bracket has practically doubled over the previous 5 years, based on knowledge from Zoopla. Rents have elevated by 29 per cent since January 2020, with the common UK lease hitting £1,223.

“The final two years have been characterised by an ongoing imbalance between rental provide and demand . . . Solely a speedy and sustained growth in rented housing will begin to enhance affordability for UK renters,” mentioned Richard Donnell, government director at Zoopla.

The modifications are most hanging within the east of England, the place 70 per cent of rental houses are in markets with common rents of £1,000, in contrast with 24 per cent in 2020.

Almost all houses within the south-east fall into the bracket, up from just below half 4 years in the past.

The pattern can be spreading outdoors the south of England. A fifth of rented houses in Scotland, the north-west, East Midlands and West Midlands are positioned in markets the place the common lease is £1,000 a month.

In Yorkshire and the Humber, simply 4 per cent of houses fall into the bracket, whereas the north-east has no markets over the extent.

“Rents had been already extremely unaffordable even earlier than the latest bout of excessive rents,” mentioned Neal Hudson, a housing market analyst at Residential Analysts, including that this has been pushed by “rising wages and a component of post-pandemic rebound in city residing.”

Regardless of this, rental inflation has additionally slowed to 7.8 per cent a 12 months, its lowest degree in two years.

Really helpful

A Foxtons ‘Let’ signboard outside a residential property

The common letting agent presently has 12 houses accessible for lease, a fifth increased than final 12 months, however 28 per cent decrease than the pre-pandemic common. The common house for lease attracts 15 inquiries, down from 20 in 2021 however double pre-pandemic ranges.

In line with Zoopla, the moderation in rental development is “primarily because of weakening demand and rising affordability pressures quite than any main growth in accessible provide.”

In London, rental development has dropped to five.1 per cent from 15.3 per cent a 12 months in the past. Demand is 30 per cent decrease than a 12 months in the past, whereas provide is increased by the identical quantity.

Common rents in Manchester are 9.6 per cent increased than a 12 months in the past, and up 8.6 per cent in Birmingham. Scotland is the one area the place rental inflation is in double digits, at 11.6 per cent.

The cooling might also be a results of mortgage charges easing and landlords reducing their expectations on rents. Greater borrowing prices on mortgages prompted some landlords to go on will increase to tenants or promote their properties. These might have then been offered to proprietor occupier purchasers or transformed into Airbnbs, eradicating them from the long-term rental market.

“Landlords could also be realising there’s an higher restrict on rental affordability as a result of rising price of residing,” mentioned Hudson. “A few of them bought too grasping for the market and are rebasing expectations.”

Rental inflation is predicted to sluggish to five per cent over 2024, with Zoopla saying that low ranges of web new funding imply beneath common ranges of rental provide are set to persist.



Source link

Tags: areasAverageHomesMonthrentedrents

Related Posts

Ackman pushes Fannie and Freddie’s odd economics to the limit
Real Estate

Ackman pushes Fannie and Freddie’s odd economics to the limit

June 3, 2025
Can you still make money from UK property?
Real Estate

Can you still make money from UK property?

May 31, 2025
Return of 100% mortgage gathers pace as lenders target first-time buyers
Real Estate

Return of 100% mortgage gathers pace as lenders target first-time buyers

May 31, 2025
European homeowners face rising mortgage costs until 2030
Real Estate

European homeowners face rising mortgage costs until 2030

May 29, 2025
can you still make money as a UK landlord?
Real Estate

can you still make money as a UK landlord?

May 22, 2025
Why we don’t move house anymore
Real Estate

Why we don’t move house anymore

May 22, 2025
Next Post
What Mike McCarthy calling plays could mean for Cowboys receivers – Blogging The Boys

Dropshipping on Temu UK now live - ChannelX World

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

five × 2 =

POPULAR NEWS

10 Simple Ways to Get Paid to Text

10 Simple Ways to Get Paid to Text

March 24, 2023
67 Under the Table Jobs that Pay Cash (Off the Books Jobs Near You!)

67 Under the Table Jobs that Pay Cash (Off the Books Jobs Near You!)

January 28, 2025
11 Easy Ways to Review Movies for Money in Your Spare Time in 2023

11 Easy Ways to Review Movies for Money in Your Spare Time in 2023

May 24, 2023
How to Create a Facebook Business Page (and Grow It) in 2023

How to Create a Facebook Business Page (and Grow It) in 2023

January 20, 2023
8 Best Sites Like Freecash For 2024 (High-Paying List!)

8 Best Sites Like Freecash For 2024 (High-Paying List!)

February 27, 2024

EDITOR'S PICK

What Mike McCarthy calling plays could mean for Cowboys receivers – Blogging The Boys

How To Build A Dropship Drone In Zelda Tears of the Kingdom – GameSpot

May 20, 2023
What Mike McCarthy calling plays could mean for Cowboys receivers – Blogging The Boys

Bye Week Blog: Getting after it – Steelers.com

October 9, 2023
Best Amazon Prime Day cycling deals live blog – road.cc

How To Find the Best Dropshipping Niches in 2025 – Shopify

February 11, 2025
What Mike McCarthy calling plays could mean for Cowboys receivers – Blogging The Boys

13 Courses to Learn Ecommerce Skills – Practical Ecommerce

October 29, 2023

Recent Posts

10 Forgotten Closet Items That Could Be Worth Serious Money Today

10 Forgotten Closet Items That Could Be Worth Serious Money Today

June 5, 2025
11 Once-Common Jobs Now Circling the Drain

11 Once-Common Jobs Now Circling the Drain

June 4, 2025
How Jay Clouse Turned a 200-Member Community into 6-Figure Revenue

How Jay Clouse Turned a 200-Member Community into 6-Figure Revenue

June 4, 2025

Categories

  • Affiliate Marketing
  • Dropshipping
  • Make Money Online
  • Real Estate
  • SEO
  • Side Hustle
  • Social Media Marketing
  • Uncategorized

Follow us

Recommended

  • 10 Forgotten Closet Items That Could Be Worth Serious Money Today
  • 11 Once-Common Jobs Now Circling the Drain
  • How Jay Clouse Turned a 200-Member Community into 6-Figure Revenue
  • HUGE Dropshipping Tariffs Update May 2025 (DON'T MISS THIS) – iHeart
  • Dropshipping Was Hard Until I Learned These 5 Hacks – Dropshipping – Talks from dropshippers to dropshippers – iHeart
  • Privacy And Policy
  • Terms And Condition
  • About Us
  • Contact Us

© 2023 18to10k | All Rights Reserved

No Result
View All Result
  • Home
  • Make Money
  • Affiliate Marketing
  • Social Media
  • Real Estate
  • SEO
  • Side Hustle
  • Dropshipping

© 2023 18to10k | All Rights Reserved