Rental Values are higher year-on-year
Rental values are significantly higher across the UK (except London) than they were a year ago. Excluding the capital, the average monthly rent is £853, an increase of 6.2%.
A shortage of supply and growing demand from tenants is helping boost rental values. Properties available to let were 9% lower in the first three months of 2021 compared to 2020 (TwentyCi).
Although London has seen an uptick in the number of rents agreed in 2021, the oversupply in the market has seen values fall by 5.7% year-on-year in the capital.
Across the UK as a whole, annual growth is currently 2.9%. This is on par with projections for growth over the next year (RICS).
Do you have a property to let?
If you are a landlord or are considering a buy-to-let investment, contact our expert lettings team to discuss your options. If you are an existing residential landlord in the Sittingbourne area then get in touch to discuss the possible increase in value of your rental property.
Source: Dataloft, HomeLet, April 2020