The biggest rent price shifts since last Christmas

Leading lettings management platform, Howsy, has looked at where across the nation makes the rental naughty and nice lists since last Christmas, based on the growth in rental costs over the last 12 months.

Using data from the ONS, Howsy has highlighted the top 15 locations to have seen the biggest increases and decreases in the average rental price since last Christmas.

Nationally

Depending on whether you’re a tenant or a landlord, the naughty and nice lists will differ between rental growth and decline but across the nation as a whole, the cost of renting as edged up 0.9% in the last 12 months.

The largest increase has been in Yorkshire and the Humber with a 5.1% jump, while the North East is the only region to have seen a decline at -1.1%.

Where else has dropped?

Looking locally, tenants in Corby will be full of Christmas cheer with the average cost of renting down -10.5% in the last 12 months, the biggest drop across England. Elmbridge in Surrey has also seen the cost of renting drop by double-digits, down -10%.

Windsor and Maidenhead, Wycombe and Bath and North East Somerset also make the top ten biggest rental declines. At -7.2%, Richmond has seen the largest drop in rental values in London, with Tandridge, Stroud, Rushcliffe and Poole also amongst some of the largest drops.

Where has increased?

It’s not all festive cheer for tenants this Christmas though, particularly those in Exeter, with the average rental cost up 28.7% in the last 12 months. Norwich and Newcastle under Lyme have also seen rental prices jump by more than 20% at 21.1% and 20.5% respectively.

Camden has seen the largest increase in the capital, up 18.8%, along with South Oxfordshire at 16%. The City of London, Westminster, York, Hounslow and Mendip have all seen the average cost of renting increase by more than 10% this year.

Founder and CEO of Howsy, Calum Brannan, commented:

“The change in the cost of renting on a regional basis in the last 12 months alone highlights how diverse the rental market is and how fluctuations in stock levels and tenant demand can make a big difference between one area and the next.

Nationally, rents have increased, for the most part, but it’s not all bad news and while some tenants will be feeling the pinch more so this Christmas, others will be enjoying a reduction in the cost of renting.

With a number of legislative changes introduced this year, the rental sector should become a better, more transparent place for tenants and landlords alike as we head into a new decade and this is something we can all look forward to regardless of the change in rental costs.”

Lowest Rental Growth Nationally and by Region
Location
Rental change growth % (2018-2019)
England
0.9%
North East
-1.1%
London
1.1%
East of England
1.2%
South East
1.4%
East Midlands
1.9%
South West
2.5%
North West
2.6%
West Midlands
3.0%
Yorkshire and the Humber
5.1%
Lowest Rental Growth by Area
Location
Rental change growth % (2018-2019)
Corby
-10.5%
Elmbridge
-10.0%
Windsor and Maidenhead
-9.4%
Wycombe
-8.7%
Bath and North East Somerset
-7.3%
Richmond upon Thames
-7.2%
Tandridge
-7.0%
Stroud
-6.7%
Rushcliffe
-6.2%
Poole
-5.9%
Wealden
-5.7%
Newcastle upon Tyne
-5.5%
Brighton and Hove
-4.9%
Ealing
-4.5%
Middlesbrough
-4.3%
Highest Rental Growth by Area
Location
Rental change growth % (2018-2019)
Exeter
28.7%
Norwich
21.1%
Newcastle-under-Lyme
20.5%
Camden
19.8%
South Oxfordshire
16.0%
City of London
11.7%
Westminster
11.4%
York
11.3%
Hounslow
10.5%
Mendip
10.1%
Broadland
8.6%
Wirral
8.5%
Chiltern
8.2%
Canterbury
8.1%
Sedgemoor
8.1%

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

Breaking News

First-Time Buyers Prioritising ‘Forever Homes’

A third of first-time buyer purchases are semi-detached properties, as young people turn to ‘forever homes’   Barclays mortgage data shows semi-detached properties rose in popularity in August, accounting for 33.5 per cent of first-time buyer purchases Four in 10 Barclays first-time buyer customers chose mortgages allowing them to complete their repayments over a 30+…
Read More
Estate Agent Talk

Closing the gap on client relationships and recommendations

New research from iamproperty has highlighted the growing disconnect between what buyers and sellers want from their agent and what they experience, which could be killing recommendations from happy clients. iamproperty’s quarterly consumer survey revealed that only a third of respondents (32%)¹ would recommend their agent following their experience. With many agents relying on recommendations…
Read More
Estate Agent Talk

Northern Ireland to expect over 25,000 new home movers

Belfast-based estate agency John Minnis has revealed that Northern Ireland is to welcome an estimated 25,000- 30,000 new arrivals from the UK and Europe over the next five years, as migration to the region reaches its highest levels in more than a decade. Recent figures show that 11,700 people relocated from other parts of the…
Read More
Breaking News

Red tape and rising costs stifling new-build availability across the capital

The latest analysis from London estate agent, Benham and Reeves, has revealed how protracted building timelines are preventing the capital’s housebuilders from delivering the level of new-build housing stock required to meet demand, with new homes currently accounting for just 7.5% of all properties listed for sale across London. Benham and Reeves analysed the latest…
Read More
Estate Agent Talk

UK’s new wave of ‘second cities’ offers strongest yield growth for property investors

The latest research from West One Loans has found that whilst investors may continue to favour the nation’s key cities such as London, Birmingham, and Manchester, a new wave of ‘second cities’ is delivering the strongest growth in rental yields. These emerging markets are offering investors the chance to achieve attractive returns, driven by rising…
Read More
Estate Agent Talk

Decline in change of use further constricting housing supply

Jonathan Samuels, CEO of Octane Capital, believes that a decline in conversion projects could ultimately prevent the Government from hitting its ambitious housing delivery targets, as the firm’s latest analysis has revealed that the number of homes created through change of use has fallen sharply in the last five years. Octane Capital analysed official Government…
Read More