- House Prices
The average rent on new tenancies has risen by just over five per cent nationally over the past year - good news for landlords and those considering a property investment.
The national Homelet Rental Index figures have not come as a major surprise to the property management team here at Nock Deighton, as we have seen demand for rental property continue to rise so it’s only natural that rents will increase.
Here in Shropshire we are finding that rental accommodation is being snapped up by tenants very quickly, and as house prices continue to rise, rents will follow.
It’s positive news for landlords who can use the increased rents to cover the various tax increases they are having to deal with.
Property is still a very wise investment for those with the means to do so, because the demand for rental property is showing no signs of slowing down.
The figures issued by the Homelet Rental Index show the average monthly rent is now £764, 5.1 per cent higher than this time last year.
For more information and advice about property management, contact Dawn Clarke or a member of her team on 01952 290163.