The autumn slowdown has not hit the rentals market -
and doesn't look likely to.
HomeLet
data shows that on average, rental prices are 4.2 per cent higher in the South
East (that's us folks!)
Nine out
of 12 UK regions have recorded higher rental prices in November 2014 compared
to the same month last year, even accounting for a 0.6 per cent decrease in UK
average rental prices since October this year.
Regions
that have experienced the highest growth compared to this time last year
include Scotland, Greater London, and the West Midlands, with rental prices
11.7 per cent, 11 per cent and 8.7 per cent higher than this time last year,
respectively.
Despite
the strong annual comparison figures, the HomeLet Rental Index has recorded an
‘autumn dip’ in rental prices, with rents agreed on new tenancies falling in
the majority of UK regions in September and October this year. This does not
include Oxford however.
This
month, that trend continues with all regions of the UK with the exception of
Scotland, the East Midlands and the South West recording lower prices in
November than in October 2014. Scotland recorded a monthly increase in rental
prices of 8.7 per cent, with the East Midlands and the South West recording
monthly increases of 1.5 per cent and 1.4 per cent respectively.
The
recent dip in prices reflects typical seasonal movement in the rental market
and sits within the context of a market that remains strong. Annually, only
three regions of the UK recorded lower rental prices in November 2014 compared
to the same month last year: the North West dropped -3.6 per cent; the North
East -2.5 per cent and Wales -2 per cent.
Best
regards
Richard
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