- Sales
-
Lettings
- Landlord Hub
- Tenant Hub
- Investment Opportunities
- Application Process
- Corporate Lettings
- Report an issue
- Portfolio Management
- Lettings Property Search
- Landlord Resources
- Tenant Resources
Are You Landlord? Start Letting With Nock Deighton Book a Valuation - Land & New Homes
- Careers
-
About Us
-
Contact Us
Navigation
-
Sales
- Auctions
- Get a ValuationOnline or In person
- How we sell Your propertyThe Nock Deighton Way
- Beyond the market
- Purchase Services
- Your Resources
- Find a Mortgage
-
Lettings
- Landloard Hub
- Investment Opportunities
- Corporate Lettings
- Portfolio Management
- Landlord Resources
- Tenant Hub
- Application Process
- Report an issue
- Lettings Property Search
- Tenant Resources
- Land & New Homes
- Careers
- About Us
- Contact Us
Are You Landlord? Start Letting With Nock Deighton Book a Valuation
Sales Property Search
National Average Rents now exceed £1000 per calendar month for the first time ever!
National Average Rents now exceed £1000 per calendar month for the first time ever!
The average rent in the UK is now at a record high of £1,007, up 5.9% on the same time last year, and up a massive 7% on this time two years ago – according to the Homelet Rental Index (June 2021).
On a more regional level, Homelet (national tenant referencing agency) report the average rent in the West Midlands region was £754 PCM in June 2021, an overall increase of 5.6% compared with June 2020.
Goodlord (national tenant referencing agency) also report their average rents in the West Midlands region of £772 PCM in June this year – an increase of 3.3% over the last 12 months -
Figures obtained from the Office of National Statistics (ONS), however, were not so ambitious; the Index of Private Housing Rental Prices for May 2021 indicates an average rental price increase of 2.4% (West Midlands).
Data is obtained from different sources of course, but all clearly indicate that rents are on the rise!
During the Pandemic, the government rightly introduced measures to protect tenants but didn’t go far enough to balance the protection for landlords.
Over the last 5 years, landlords have been penalised by increased taxes and endless changes in legislation. There is no doubt that standards of rented accommodation need to be regulated for the safety and protection of tenants, but increasing taxes for landlords at the same time is encouraging more landlords to exit the market, thereby reducing the supply of accommodation available in a marketplace where demand is increasing, and inevitably rents will rise.
The private rented sector works best when there’s a mutual balance between tenants and landlords. The government’s strategy to suspend stamp duty (excluding the 3% surcharge for BTL properties) certainly had the desired effect to get the housing market moving again, but supply and demand dynamics will only continue to drive rental prices upwards for the rest of the year, and I’m sure we’ll see more records broken in 2021.
Dawn Clarke
Why Accidental Landlords in the UK are Selling Their Properties
Read moreWhat Do Landlords Want from a Letting Agent? Insights from a Recent Survey
Read moreIntroducing our new Rent Review Service for Self-Managing Landlords
Read moreOld Smithfield, 34-35 Whitburn Street, Bridgnorth, Shropshire, WV16 4QN
© Nock Deighton 2023 - Privacy | Complaints | Terms | handcrafted by isev
Nock Deighton (1831) Limited Trading As Nock Deighton, Registered in England. Company No: 06589318. VAT No: 456 7415 27. Registered office: Old Smithfield, 34 – 35 Whitburn Street, Bridgnorth, WV16 4QN
Find out what your house is worth?
Get a free valuation and find out how much your property could sell or let for.
- Bridgnorth 01746 767 767
- Ironbridge 01952 432 533
- Telford 01952 292 300
- Worcestershire 01562 745 082
- Cleobury Mortimer 01299 271 477
- Ludlow 01584 875 555
- Shrewsbury 01743 770 005
- Lettings & Property Management 01952 290 163
- Land & New Homes 01746 770001
Call us to arrange a valuation