Friday News #0134 – Rent Increases Hit 13-Year High As Demand In Major Cities Doubles

As renters are returning to cities it is becoming abundantly clear that there are not enough properties available to rent to meet the demand, this lack of supply is forcing rents higher. Outside of London, average UK rents have risen by 6% over the past 12 months, having jumped 3% in the past three months alone. Rising rents and a severe shortage of property available to let means landlords can expect continued rental increases for the foreseeable future.

With property prices also expected to rise over the coming years, securing a rental property in the coming months will enable an investor to take full advantage of the rising market and maximise their potential rental yield.

Here’s What We’ve Seen In The News This Week: 

Rent Increases Hit 13-Year High As Demand In Major Cities Doubles: Rent increases have hit a 13-year high as demand for property doubles in the central zones of major cities. And for the first time in 16 months, London rents are rising. Read more.

Low Rental Supply Worsening In Every Region Of England, Says Index: Home, the property website that publishes an authoritative market snapshot for lettings and sales each month, says the long-standing supply drought is worsening in every single region of England. It’s now 46 per cent lower than a year ago and has prompted significant rent rises. Read more. 

Ons: House Price Growth Soared To 11.8% During September: Albeit a little historical, the latest house price data released by HM Land Registry for September 2021 has revealed that average house prices in the UK increased by 11.8% in the year to September 2021, up from 10.2% in the year to August 2021. According to the figures, during September, the average UK house price hit a record high of £270,000 – £28,000 higher than this time last year. Read more. 

Landlords On Top At Last In Prime Central London Rental Sector: After two years in the doldrums and high levels of oversupply, prime central London is at last a landlord’s rental market according to a leading agency. Read more.

Questions To Ask When Buying an Investment Property: Whether you’re looking to purchase your first ever investment property or your twentieth, it’s essential to understand what the process involves. Read our latest blog to learn more.