By +Eric Jafari
Average rents in the UK fell in the first quarter of
2013, according to the Move With Us Rental Index.
Advertised rents dropped by 0.43 per cent between January and
March. However, this didn't take the form of a straightforward
downward trajectory. Prices dropped in early January, before
stabilising towards the end of the month and throughout February.
March saw rents drop again by 0.25 per cent.
Nonetheless, Move With Us stress that when examined as part of a
yearly trend, the change is relatively small and isn't a cause for
concern. In fact, rents are stable and fluctuate around £969 per
month. This means that prices are at equilibrium and fluctuations
are the result of changes in supply.
Robin King, director of Move With Us, commented: "The current
quarterly trend suggests that rents could fall further in the
coming months, though if this is the case it should be by less than
0.5 per cent. However, the long term trend indicates that
advertised rents are more likely to remain at a similar figure,
with possible increases close to the rate of inflation."
However, rental growth isn't the same throughout the country and
the first quarter of 2013 saw changes in regional trends. In north,
rents grew at a much slower pace than in 2012, while the south of
England continues to enjoy strong growth. In fact, there is a GBP
121 gap between the cheapest southern region and the most expensive
of all other areas, Mr King explained. The north-east and east
midlands have also seen some of the larger price rises, but this
has been offset by a fall in advertised rents in Q1.
Scotland and East Anglia have emerged as the most consistent
regions in Q1, with prices rising at a steady rate between January
and March. "Advertised rents in Scotland appear to have recovered
from a difficult end to 2012, seeing two successive quarters of
stable rental price growth which is likely to continue throughout
2013," Mr King explained.
17 April 2013
Rental Property Market,Rental Statistics