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Posts Tagged: Property Rental Income

Rents Growing Faster In Northern Cities Than Down South

If you are a landlord who is considering increasing his or her portfolio of investment properties to let out or are considering becoming a landlord then you may find the Countrywide PLC Monthly Lettings Index for September 2016 of interest. The index shows that, in the 12 months to September 2016, in northern cities (Yorkshire and Humber, North East, North West and Scotland) rental growth went up by 6.4% from an average monthly rent of £790 in September 2015 to an average monthly rent of £841 in September 2016. However, in Southern Cities (East of England, South West, South East and London), over the same period, rental growth only rose by 1.8% from an average monthly rent of £1,060 to an average monthly rent of £1,079. That is a variance of 4.6%. Manchester witnessed the biggest % growth in rental over the above 12-month rental period with an average rise of 7.1% for new lets. The average monthly rent in Manchester was £802. 12% of homes in the city were let within 24 hours. In second place was York with an average % increase of 6.8%. The average monthly rent in York was much higher than Manchester at £1,054. 15%…

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