Rent Prices Hit Record Levels – Almost Doubling In The Last Decade
Rents are now 40% higher that they were a year ago, compared to mortgage prices of 13% according to recent research from Rightmove
Average private rents have hit record highs, jumping by more than 20% in some areas such as Manchester. The average advertised rent outside London is 11.8% higher than a year ago, while in the Capital it is up by 15.8%.
Rightmove’s table of rental price hotspots was topped by Manchester, where the average asking rent is up 23.4% in a year – from £913 in the second quarter of 2021 to £1,127 in the same period this year.
Manchester has risen 26 places in this year’s Global Liveability Index, making it the top most liveable city in the UK and 28th across the globe. Every year, The Economist releases its rankings of the most liveable cities in the world, and this year’s list included 172 cities in total – up from 140 last year. It is ahead of the capital city of London, placed 33rd in the world, as well as other major cities including Barcelona, Los Angeles, Perth and Milan.
Sequre Property Investment: Top Ten Hotspots in NW By Rent Prices
| Region | Postcode | Average yield | Average Rent Per Month |
| Manchester | M14 | 9.6% | £1,680 |
| Manchester | M13 | 7.2% | £1,356 |
| Liverpool | L4 | 6.9% | £602 |
| Lancashire | LA1 | 6.9% | £952
|
| Liverpool | L7 | 6.9% | £645 |
| Manchester | M6 | 6.6% | £1,081 |
| Liverpool | L20 | 6.5% | £580 |
| Liverpool | L2 | 6.4% | £749 |
| Manchester | M9 | 6.3% | £858 |
| Chester | CH41 | 6.3% | £576 |
Daniel Jackson, Sales Director of Sequre Property Investment comments: “Private rents are growing by the fastest annual rate since 2016, according to the Office for National Statistics. Regions in the UK that have traditionally had lower rent prices like Scotland, the North and the Midlands are seeing some of the highest annual rent prices since records began.
“It’s a landlord’s market and despite rising interest rates, there has arguably never been a better time to invest in buy-to-let property. Since the rise in living costs, tenants have been choosing to move outside higher priced hotspots and looking in areas within commuting distances to major city centres.
“Areas such as Bolton and Salford for Manchester, with accessibility to the city centre in just 20 minutes. Buying in an area that is close to big cities is a great investment strategy for capital growth. In this strong market, we advise landlords to focus on growing their property portfolio to benefit from the rise in rental yields across the country especially in the North West.”
Sequre Property Investment specialises in sourcing high-income producing, buy-to-let property investments in a number of major cities across the UK, assembling bulk deals that provide both small and large investors with access to heavily discounted investment opportunities.
Sequre Property Investment can take care of all the additional services including furnishing of the property, recommending mortgage brokers, solicitors and organising the letting and ongoing management of buy-to-let investments. Sequre’s clients can access pre-negotiated discounted rates on these services, which are available exclusively to them.
For further information please visit www.sequre.co.uk.
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