How is the rental market in Wales changing?
We recently received the rent index from the DPS, the report collates data on the rental market for Q3 of 2017. It provided insightful data that we believe our landlords would be interested in.
Rents have been increasing across the UK over the last 10 years, with the average UK rent for quarter three of 2017 standing at £775.13, 25.5% higher than a decade ago. But how have our areas faired?
Let’s begin in Wales who achieved an average rent of £574.07 for the third quarter and increase of 0.61% for the same period in 2016. Whereas the South East’s average rent for Q3 was £723.68, 2.69% increase on quarter three in 2016. These results meant that the average rent in Wales was the ninth highest in the UK and the South East the fourth.
Remember these are average rents and do not reflect regional and even specific street variations. If you are looking to rent a property within one of the areas we cover, we can provide you with area-specific data to give you a more relevant view of the market for your portfolio.
*Graphs from DPS Rent Index Q3 2017