Top of the class – top social classes push rents up by 65%
The latest data by, the UK’s only combined lettings inventory and property compliance specialists, VeriSmart, has looked at what impact top tier social classes have on local rental prices.
VeriSmart grouped thousands of postcodes by the percentage of the population classed within the NRS social grading of AB.
A being upper middle class holding higher managerial, administrative, or professional job roles.
B being middle class holding intermediate managerial, administrative or professional job roles.
VeriSmart then looked at the average rental cost per month across areas where the AB social class accounted for 0-19% of the population, 20-39%, 40-59% and 60-80%.
The research shows that the average rental cost increased by 65% for every increase in the population bracket, with the highest (60-80%) paying £3,013 per month compared to just £692 in the lowest bracket.
The largest jump came between areas where 20-39% of the population were classed AB and 40-59% – with a difference of 57% between the average rent of £972 per month and £1,541 respectively.
Founder of VeriSmart, Jonathan Senior, commented:
“Rental demand across any given market can be influenced by a whole host of diverse factors from location, property stock, amenities and even the prestige of the area and the demographic of the population.
While these factors usually combine to create a greater rental appeal, this research shows that there is a direct correlation between the percentage of the population listed in the AB social class and the rental potential of the local market.
When considering these sorts of factors, those looking to invest in a buy-to-let property can quickly narrow their search to account for these influences and ultimately find the soundest investment to suit their budget.”
|
Percentage of the Population Classed AB
|
Average Rent per Month
|
Change (%)
|
Average Change (%)
|
|
60-80
|
£3,013
|
96%
|
65%
|
|
40-59
|
£1,541
|
57%
|
|
|
20-39
|
£979
|
41%
|
|
|
0-19
|
£692
|
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