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.

EAN Content

Content shared by this account is either news shared free by third parties or sponsored (paid for) content from third parties. Please be advised that links to third party websites are not endorsed by Estate Agent Networking - Please do your own research before committing to any third party business promoted on our website.

You May Also Enjoy

Estate Agents should not all look the same
Estate Agent Talk

How to Become an Estate Agent with No Experience

Breaking into the property industry can seem intimidating – especially if you’ve never worked in it before. But the good news? You don’t need years of experience or fancy qualifications to start a career as an estate agent in the UK. In fact, many successful estate agents started with no background in property at all.…
Read More
buying at auction uk
Estate Agent Talk

9 Advantages of Selling Your House by Auction

Selling your house by auction might seem like a daunting prospect, but it comes with numerous advantages that can make it a highly attractive option. While the traditional method of selling through an estate agent has its place, auctions are increasingly becoming a popular choice for homeowners looking for a swift and reliable sale. Here…
Read More
Breaking News

Majority of Tenants Unsure How Changes Will Affect Them, Says LRG

With major changes to the private rental sector on the horizon, 62% of tenants say they don’t know whether the government’s Renters’ Rights Bill will address their concerns – highlighting a growing need for clearer communication around what the reforms will mean in practice. LRG’s latest Lettings Report shows that while landlords are widely aware…
Read More
Home and Living

Perfume Storage Tips: How to Keep Your Fragrances Fresh

Perfumes are sensitive compositions that can be significantly affected by how they are stored. Proper storage ensures that your favorite fragrances stay fresh and maintain their intended scent profile. In this article, we’ll explore practical, fun, and effective tips to help you preserve your perfumes in perfect condition. Understanding the Sensitivity of Perfumes Perfumes are…
Read More
Breaking News

Renters’ Rights Bill Delay Causing Uncertainty for Tenants and Landlords

Ministers need to tell landlords and tenants when measures in the Renters’ Rights Bill will take effect the National Residential Landlords Association (NRLA) is today warning. The Government pledged last year to abolish Section 21 ‘no explanation’ repossessions and to make other changes to the rental market this summer. With the Bill not scheduled to…
Read More
Breaking News

Breaking Property News 02/04/25

Daily bite-sized proptech and property news in partnership with Proptech-X.   Made Snappy 360 appoints new CEO and Sales Director to accelerate growth in the property technology space Made Snappy 360, the fast-growing proptech company known for its virtual tours and floor plan technology, has appointed industry veteran Mark Beresford-Ward as its new Chief Executive…
Read More