Areas With The Biggest Rent Rises Revealed

AFS Team·23 January 2020·4 min read
Areas With The Biggest Rent Rises Revealed

Areas With The Biggest Rent Rises Revealed

The areas in the UK that enjoyed the largest rent rises in 2019 have been revealed - and there are some startling surprises.

According to Howsy, the lettings platform, they analysed the Office for National Statistics data to reveal the top 15 locations for rent rises and falls.

Regionally, the best area was Yorkshire and Humber with a 5.1% rise, followed by the West Midlands on 3% and the North West on 2.6%.

The worst performing region is the North East with -1.1%. On average, rents rose by 0.9% across England in 2019.

Best performing location for rent increases

When towns and cities are analysed, the best performing location for rent increases is Exeter with a 28.7% rent price growth between 2018 and 2019.

In second place is Norwich with 21.1%, then Newcastle-under-Lyme with 20.5% and Camden on 19.8%.

South Oxfordshire saw rents rise by 16% and in the City of London they grew by 11.7%, In Westminster they rose by 11.4%.

The worst performing location for rent growth is Corby with a drop of -10.5%, followed by Elmbridge in Surrey on -10% and Windsor and Maidenhead on -9.4%.

Also, Wycombe was a poor performer with rent falls of -8.7%, followed by Bath and North East Somerset on -7.3%.

The firm's founder, Calum Brannan, said: "The cost of renting regionally highlights just how diverse the country's rental market is and how fluctuations in tenant demand and stock levels can be the difference between areas.

"Rents have increased nationally for most and it's not all bad news with some tenants feeling the pinch more than others and some tenants will enjoy a rent reduction."

End of Section 21 repossessions confirmed

Meanwhile, the Queen's Speech has confirmed that Section 21 repossessions will come to an end.

Now, the Residential Landlords' Association (RLA) warns that the proposals for ending Section 21 repossessions will need a system in place to reassure landlords that they can effectively and swiftly repossess their property in legitimate circumstances.

They say that without this confidence, the housing supply crisis will worsen, which will make it harder for tenants to find somewhere to live.

The RLA's policy director, David Smith, said: "We accept there is a need for protecting tenants from abuse and it's crucial that plans for reforming repossessions take place are right if we are to avoid a rental housing crisis.

"Unless there's a new system that is fair to good landlords and tenants, landlords who were needed for supplying homes will not have the confidence to provide homes for rent necessary for meeting demand."