First time buyers return affects rent levels.

20 July 2013

Rents held steady in June, defying the usual seasonal increase of the last five years, as the surge in FTB numbers eased the strain on the rental market, according to the latest Buy-to-Let Index from LSL Property Services.

The average rent in England and Wales remains the same as in May, at £737 per month.  This comes after monthly rental inflation has been slowing for a number of months, and compares to an average 0.8% monthly increase in June over the five years since 2008. The continued slowdown leaves rents only 2.6% higher than in the same month last year – below the rate of CPI inflation (2.9%).

The number of new tenants in June also indicated a slightly cooler rental market. Across England and Wales there were 0.8% fewer new tenancies in June than in May. However, activity has still seen strong annual growth.  The number of new lettings in June increased by 3.5% compared to the same month in 2012.

Regional variation remains. Five out of ten regions saw rents rise in June. The sharpest monthly increase was in the East Midlands, where rents have risen 0.7% since May.  Second fastest were the North West and South West, with average rents in both regions seeing a 0.5% monthly rise.

The quickest monthly falls were in Wales, where average rents are down 1.9%.  Rents in Yorkshire and the Humber fell by 0.6% since May, while the West Midlands saw average rents drop by 0.5%.

Meanwhile, rents in the South East have fallen by 0.4% between May and June, representing a sharp decline from only the previous month. By comparison, between April and May the average monthly rent in the South East had grown by 0.2%.

On an annual basis, rents in seven out of ten regions remain higher than in June 2012.  London remains the region with the fastest annual rent rises, up 6.4% from a year ago.  However June’s figure is much slower than the recent peak of 7.9% rental inflation registered in the capital in March.  The East Midlands experienced the second fastest annual rises, with rents up 3.4% in June, followed by the North East with rents on average 2.5% higher than a year ago.


Property Finder

If you're looking for a particular property and you have the Property Reference Number enter it below and click "Find Property" to pull up it's particulars.

Zoopla Property Power 100 logo
Why we're number one...

We truly believe we are the best placed agent to help you sell your property.

Here are a few reasons why:

  • Voted Cramlington's best independent agent
    for over 13 years
  • All negotiations are handled personally by our experienced, senior staff
  • Our accurate pricing is based on many years of local sales experience
  • Complete client confidentiality guaranteed
  • Market-leading sale fees
  • 10% discount for returning customers
  • Energy performance certificates & floor plans
Blog Search

If you don't have a Property Reference Number but know the name of the property you are looking for enter the address or any other search term into the search box below to scour through all of our blog posts for a match.

Twitter Followers
RSS 54 Subscribers

eSearch Property Feeds

Tired of house-hunting? We can help!

Subscribe to our new eSearch Property Feeds and allow us to do the leg work for you!

No Searching. No Hassle. No Fuss.

Tell me more...

Our innovative new Property Feeds allow you to receive updates and details of new properties to the market via Email - without any of the monotonous leg-work!

Traditionally, house-hunters would search through local papers, agent-windows and the internet for available properties. To check for new properties on the market, house-hunters would need to repeat this tedious process over and over again.

By subscribing to our Property Feeds you remove the need to ..well, ...do anything!

Once subscribed, you will receive details of all our new properties directly to your inbox, via email.

No effort required!

Powered by FeedBurner

How do I subscribe?

Simply select the feed category that interests you below, and click on your preferred feed(s). This will open up a short form (in a new window).

Once you have confirmed your subscription you will begin to receive details of our properties via email!

Feed For Sale Feeds

Receive details of our new properties for sale via email, by subscribing to one of more of our For Sale feeds below:

Feed To Let Feeds

Receive details of our new properties to let via email, by subscribing to one of more of our To Let feeds below:

Feed Commercial Feeds

Receive details of all our commercial propositions by subscribing to one of more of our Commercial feeds below:

How to unsubscribe

To unsubscribe from a feed, click the 'unsubscribe' link at the bottom of any of our emails.

Blog Post History

Browse our blog posts month by month:

Regulated & Registered

Our standards and advice are backed by professional memberships so you can be sure of receiving a quality, professional service.