Regional analysis of rents shows stability

Thursday, 14 June 2012 10:13 AM

Rents across the UK are stable according to the index from the Belvoir Lettings agency.
But what is happening on a regional basis does not always reflect the national average.
Property expert Kate Faulkner has provided her rundown of the current rental market based on figures from the index.

Scotland
Rents across Scotland remain static for 2012.

East Anglia
In most areas of East Anglia rents appear to be static, although so far this year Ipswich is performing well, whereas Huntingdon is showing signs of small rent falls.

North West
As with other regions, most areas are static in the North West. Areas with rents rising include Chester, while areas such as Prescot and Manchester are showing signs of small rental falls.

East Midlands
Overall the East Midlands show signs of rents slightly softening. Areas such as Boston, Kettering and Sleaford show slight falls, whereas areas such as West Bridgford and Loughborough are showing rents rising.

Yorkshire
Average rents in Yorkshire have stabilised across nearly every office, bar some small falls in Leeds.

South East
Rents in the South East overtook the heights of 2008 in the last month and most areas are seeing static to slowly rising rents. Harlow and Hitchin seem to be the exception with small rental falls, which are in line with anecdotal discussions with various offices.

West Midlands
Rents in the West Midlands are currently softening on average in areas such as the Jewellery Quarter and Stafford. Shrewsbury is currently bucking the trend and rents are rising, albeit ‘nudging’ upwards.

South West
Average rents in the South West continue to rise in 2012, with Gloucester and Highcliffe being the only areas showing signs of softening rents.

London
London rents are also showing some signs of softening despite all the media noise last year.

North East
Rents have done very well in the North East to date and this is the first sign we’ve seen this year of rents falling slightly. Sunderland seems to be holding its own while Tynedale reports no reduction apart from top end properties.
 

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