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Posts Tagged: HomeLet Rental Index

Average Rent Falls In May

Landlords and tenants may wish to read the HomeLet Rental Index covering May 2017. It provides some interesting information about rental payments being charged by landlords. In respect of new tenancies, the rent being charged on UK investment properties in May was an average of £901 per month. When compared with May 2016, this figure was 0.3% less and is the first time that a reduction in rental income has been seen since December of 2009. It is Greater London that has seen the largest percentage drop with a reduction of 3% when compared with May last year. The average rent being charged in that part of the UK was £1,502 per month. The North East saw a fall in rental income in May of this year with a 2.3% reduction over a period of 12 months to an average of £522 per month. Scotland saw a drop in rental income in May 2017 when compared with the same month last year. Rental income fell by 1.9% to an average of £622 per month. The South East saw rental income drop in May 2017 by 1.5% to an average of £998 per month in comparison to May 2016. Yorkshire and…

Average Rental Values Increase

If you are a landlord then you will no doubt wish to maximize the rental income that you receive on your investment property. You will probably look to periodically increase the rent that your tenants pay. You may be interested in what is happening to rental values around the UK so the following information extracted from the HomeLet Rental Index should hopefully prove informative. The rental amounts relate to new tenancies for the month in question obtained from their reference service for tenants. Apparently, in April 2016, the average rental value in the UK for properties outside London amounted to £764 pcm. In April 2015 the amount was £728 pcm so we have seen an increase of 5.1% in the last 12 months. It is interesting that in Greater London the average rental value has increased by 7.7% when comparing April 2015 with April 2016 to £1,543 pcm. The biggest % increase was witnessed in Scotland where rental values went up by an average of 11.4% in the 12 months between April 2015 and April 2016. In the North West average rental values actually dropped by 1% when comparing April last year with April this year. The West Midlands saw…

Highlights Of The Latest HomeLet Rental Index

If you are a landlord then you may find October 2015’s HomeLet Rental Index of interest as it provides information about various things including how much their new tenants are paying on average per month in rent in different parts of the UK. Below, we highlight some of the statistics. The majority of the regions in the UK have seen average rental income being charged increase in the 12 months to October 2015. On average, rental income rose by 9.7% across the UK during this period from £909 being charged in October 2014 to £997 being charged in October 2015. The exceptions were in Northern Ireland that saw a drop of 2.1% to £588 pm, East Anglia with rental income falling by 1.2% to £809 pm and the North West where rentals fell by 4.9% to an average of £635 pm. The largest percentage increase in the amount of rent being charged on a monthly basis was in Scotland where an increase of 9% was seen from £610 to £665 although this is lower than the average rental for September 2015 of £678 pm. Greater London saw rental income rise by 7.5% from £1,451 pm to £1,560 pm in the…

London Rental Income Increase Greater Than Rest Of UK

According to the HomeLet Rental Index for May 2015 the rent being charged by landlords on properties in London is increasing at a higher % than elsewhere in the UK. This is probably not going to come as a surprise to most people as it merely follows what tends to happen with property values in our capital city. The index reveals that new tenants in the three months to May 2015 taking up occupation of a property in London would pay an average of £1,472 pcm – that is an increase of 9.2% when compared with the three months to May 2014. In the rest of the UK, rents went up by 7.6% to an average of £738 pcm when comparing the same periods. It is interesting that the index also looks at the rise in income tenants received for the same period as this showed that, across the whole of the UK, incomes only went up by an average of 2.4%. When the average rent someone is paying in May 2015 is compared with what they were paying in May 2014 in the UK it was found to be 12.5% more – £960 pcm. Obviously, from the landlord’s point…

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