Average rents remain steady

Nia Williams

March 22, 2013

Move with Us said rents are likely to remain at around the same level in the coming months with increasing employment and mortgage availability suppressing demand for rental properties.

On a regional basis most areas have seen small increases of between 0.04% and 1% in advertised rents.

Robin King, director of Move with Us, said: “Overall, average advertised rents have not changed by a large amount this month, with seven regions changing by less than 1%.

“However there are several regions that are set to see continued changes in rents by the end of the quarter.”

February saw average rents in Yorkshire and Humber and the North East fall by around 2.5% for the second month in a row.

Scotland saw advertised rents rise above January 2012 levels for the first time in four months and London also appears to have recovered after a three month decline.

Average rents in the capital now stand at £2,196 up from £2,194 in January.

The South East and East Anglia continued to increase steadily throughout February as advertised rents in both regions increased by an average of £8.50 per month.

Average advertised rents in the North West and West Midlands both continued to increase with yearly rent increases of 7.46% and 3.55% respectively.

Advertised rents in the East Midlands and Wales have continued to decline and Move with Us warned that they are likely to continue to do so in the coming months.

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