Coast to Country Lettings and Property Management
    What's Hot

    At What Level Do You Need Help With Your Property Development?

    February 18, 2025

    From Coast to Country: Exploring Spain’s Top Golf Holiday Rentals

    August 29, 2024

    5 Best Places To Live In England Near Top Golf Courses

    June 21, 2023
    Facebook Twitter Instagram
    • Home
    • Useful Links
    • Contact
    Facebook Twitter Instagram
    Coast to Country Lettings and Property Management
    • Home
    • Landlord News

      Factors That Increase The Rental Price On A Property In The UK

      April 6, 2023

      If There’s a Musty Smell, Call the Damp Specialist

      April 6, 2018

      5 Fire Risk Hazards Not to Ignore

      March 9, 2018

      Landlords Who Let Out Draughty Homes Will Banned, Says New Law

      January 29, 2018

      What Is A Conveyancers Role When Buying A Property?

      January 5, 2018
    • Real Estate Law

      Landlords Who Let Out Draughty Homes Will Banned, Says New Law

      January 29, 2018

      What Is A Conveyancers Role When Buying A Property?

      January 5, 2018

      4 THINGS LANDLORDS SHOULD KNOW ABOUT THE BUY-TO-LET TAX CHANGES

      July 5, 2016

      Quick Guide to stamp duty for Landlords

      February 19, 2016

      Tenancy deposits at risk with new deposit protection regulations

      June 22, 2015
    • Property Investment

      5 Best Places To Live In England Near Top Golf Courses

      June 21, 2023

      6 Tips for New Real Estate Investors

      June 20, 2023

      The Importance of Consulting An Insolvency Practitioner On Property Investment

      September 1, 2022

      Better Returns to be Gained from BTL Than Savings, Report Claims

      April 4, 2017

      Number of UK Landlords on Steady Rise

      July 5, 2016
    • Banks & Lending
    Coast to Country Lettings and Property Management
    Home»Brexit»Lettings Income for UK Landlords is For The First Time Falling Post Brexit
    Brexit

    Lettings Income for UK Landlords is For The First Time Falling Post Brexit

    Coast to Country LettingsBy Coast to Country LettingsMay 16, 2017Updated:July 11, 2022No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Share
    Facebook Twitter LinkedIn WhatsApp Pinterest Email

    For the first time in eight years, rents in the post-Brexit  UK property market are on a decline. This is according to new figures from many sources in the property market.  The numbers show that the renting costs for people living in the capital city have fallen by 1.2%, to a level last seen in 2009 with rental inflation across the UK at its lowest since 2010.

    According to the new data, the average cost of new tenancies in the Capital signed in April 2017 was £1,519 per month. This is a £27 drop in comparison to an average of £1,546 in March. And the UK as a whole £764 per month down from £800.

    The new figures back up the recent data from some of the UK’s main estate and lettings agencies which showed that rents in Britain as a whole fell for the first time in six years.  Some experts believe that the scampering to buy property ahead of the hike in stamp duty in 2016 led to a spike of 10% in the number of new homes for tenants. The data also showed a slide in tenant numbers since the Brexit vote.

    An expert lettings, analyst at Prospect UK who are Estate Agents in Reading say, “the new figures are not surprising as rents across the whole of the UK has been on a steady decline over the last few months.  We have also seen a lower level of rental price inflation even in places where prices were formerly rising fairly quickly. We expect this trend to continue as more landlord’s and letting agents weigh up tenant affordability more carefully”.

    House Prices Also Affected

    The new data showed that the average cost of a home is now £207,699, a 0.4% decline in March figures, showing the second monthly slide in a row. Annual growth stood at 2.6 per cent, a level not seen since June 2013.

    Experts have been surprised by the data as it doesn’t reflect the fact that mortgage rates and unemployment are at historic lows. However, many agree that it could be the signal that many households are beginning to adjust to economic realities as it concerns real incomes and are showing a different reaction to affordability pressures.  Due to the rising inflation, many households are coping with a reduction in the value of the British Pounds in comparison to what it can buy (purchasing power).

    This is as a result of the erosion of value for the pound since the Brexit vote.

    What Next for the UK Rental Market?

    The decline in rental prices across the Capital is a sign that more people may be considering rental properties away from London, which is a good barometer for the rest of the UK. However, the capital remains by far and away, the most expensive place to rent for tenants.  Landlords in the London rental market may have to find other ways to recoup the lost income but they will continue to enjoy far higher rental prices in comparison to other parts of the UK.

    It is important to note that the data showed the average rent in London to be £1,519 per month currently. This is more than 90% the average rent in the rest of England and Wales which is £800 per month currently.

    The East of England currently holds second place as the most expensive place to rent a property outside of London at an average monthly rent of £883 a month. The South-East of England comes in third at £845 a month on average.

    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    Coast to Country Lettings

    Related Posts

    Factors That Increase The Rental Price On A Property In The UK

    April 6, 2023

    If There’s a Musty Smell, Call the Damp Specialist

    April 6, 2018

    5 Fire Risk Hazards Not to Ignore

    March 9, 2018

    Landlords Who Let Out Draughty Homes Will Banned, Says New Law

    January 29, 2018

    What Is A Conveyancers Role When Buying A Property?

    January 5, 2018

    Improving The Rental Value of Your Property

    October 23, 2017
    Add A Comment

    Comments are closed.

    Don't Miss

    At What Level Do You Need Help With Your Property Development?

    By Coast to Country LettingsFebruary 18, 20253 Mins Read

    As a building manager, you should seek help with your property developments at any level where…

    From Coast to Country: Exploring Spain’s Top Golf Holiday Rentals

    August 29, 2024

    5 Best Places To Live In England Near Top Golf Courses

    June 21, 2023

    6 Tips for New Real Estate Investors

    June 20, 2023
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Our Picks

    At What Level Do You Need Help With Your Property Development?

    February 18, 2025

    From Coast to Country: Exploring Spain’s Top Golf Holiday Rentals

    August 29, 2024

    5 Best Places To Live In England Near Top Golf Courses

    June 21, 2023

    6 Tips for New Real Estate Investors

    June 20, 2023
    Partners
    Sussex Damp Experts
    Coast to Country Lettings and Property Management
    • Home
    • Useful Links
    • Contact
    Copyright 2021 Coast to Country Lettings and Property Management

    Type above and press Enter to search. Press Esc to cancel.