Friday 8 July 2011

Average rents increase

PRESS RELEASE
08.07.11

The average rent has steadily increased over the past three and a half years since the launch of the Rent Index.

There has been a certain fluctuation in the average rental figure but the trend line is showing a steady upward trend in rents.

Average rents now stand at £594 an increase of 2.93 percent over the past 12 months.

The rent index blue trend line has seen a steady upward trend since it's launch 3 years ago.

The Rentindex provides the only real time measurement of UK residential rents and aims to provide a barometer of the state of the rental market in the same way that the stock market measures the health of the economy.

ENDS

EDITORS NOTES

The Rent Index gives a dynamic 'snapshop' of average rents in the private residential sector.

The Rent Index is owned and produced by Welland Media Ltd.Welland Media Ltd was established in 2008 and owns one of the UK's leading Landlord website Property Hawk.To find out more about the Rent Index and Property Hawk together with more comment on letting and renting property contact Chris Horne at Welland Media Ltd on 08458684070 or contact@propertyhawk.co.uk.



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Friday 10 September 2010

Rent increases all round

Landlords over the last 6 month have had the luxury of being able to dine out on rising rents.

The last few months have seen rental increases cooking up a storm.

Can these increases last with massive public sector cuts on the way?

Food for thought.


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Wednesday 1 July 2009

Rents in Manchester fall by 1.3%

PRESS RELEASE
01.07.09

Average rents in Manchester fell by 1.3% over the year to £520 per month

Manchester buy-to-let rents fall but only by 1.3% over the year.

Residential rents in Manchester have held up well despite the economic slump in the last year according to website the Rentindex. The average rent in Manchester is now £520 compared to £527 in 2008.

This compares to the national average rent which is currently £590. This puts the average residential rents in Manchester at 88% of the national average.

Rentindex analyses nearly 5000 residential tenancies created over a three month period to produce the daily updated Rentindex. Nationally rents have risen 1.9% over the last 3 months but fallen 0.6% over the year.

Average rents for a 1 bed property in Manchester is currently £402 whilst a 2 bed property rents for £550.

Chris Horne from the Rentindex comments: “Manchester like many regional centres has been suffering from an over supply of rental accommodation, especially in the city centre. This has helped to keep down rents as landlords compete to fill vacant property.”

The Rentindex provides the only real time measurement of UK residential rents and aims to provide a barometer of the state of the rental market in the same way that the stock market measures the health of the economy.

ENDS

EDITORS NOTES

The Rent Index gives a dynamic 'snapshop' of average rents in the private residential sector.

The Rent Index is owned and produced by Welland Media Ltd.Welland Media Ltd was established in 2008 and owns one of the UK's leading Landlord website Property Hawk.To find out more about the Rent Index and Property Hawk together with more comment on letting and renting property contact Chris Horne at Welland Media Ltd on 08458684070 or contact@propertyhawk.co.uk.


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Rents in Sheffield fall by 6%

PRESS RELEASE
27.05.09


Sheffield buy-to-let rents fall by almost 6% over the year.

Residential rents in Sheffield have fallen almost 6% in the last year according to website the Rentindex. The average rent in Sheffield is now £440 compared to £468 in 2008.

This compares to the national average rent which is currently £591. This puts the average residential rents in Sheffield at 75% that of the national average.

Rentindex analyses nearly 5000 residential tenancies created over a three month period to produce the daily updated Rentindex. Nationally rents have risen 3% over the last 3 months and 1.4% over the last year.

Chris Horne from the Rentindex comments: “Sheffield like many regional centres has been suffering from an over supply of rental accommodation, especially in the city centre. This has helped to drive rents down as landlords compete to fill vacant property.”

The Rentindex provides the only real time measurement of UK residential rents and aims to provide a barometer of the state of the rental market in the same way that the stock market measures the health of the economy.

ENDS

EDITORS NOTES

The Rent Index gives a dynamic 'snapshop' of average rents in the private residential sector.

The Rent Index is owned and produced by Welland Media Ltd.Welland Media Ltd was established in 2008 and owns one of the UK's leading Landlord website Property Hawk.To find out more about the Rent Index and Property Hawk contact Welland Media Ltd on 08458684070 or contact@propertyhawk.co.uk.


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Friday 20 March 2009

First UK Rent Index of Actual Rents Launches

The launch of the Rent Index heralds the arrival of the first index of 'actual' residential private sector rents in England and Wales.

There are some letting sites that have started to show data for advertised rents. However, as a true reflection of market trends, an advertised rent can be very different from the final agreed rent, particularly in this uncertain economic climate.

This is where we stand alone as the only index of 'actual rental values'.

For years the UK has been without an accurate and up to date measure of private rental data. There have been various attempts to generate an up to date record of private sector rents in the UK which because of the amount of work involved, and all have ended in failure.

The Rent Index is looking to change this. Thanks to the power of the Internet, data has been captured from thousands of UK landlords creating Assured Shorthold Tenancy agreements, used to create their tenancies. This data is then aggregated through a daily calculation, to give an up to date picture of the average rent in England and Wales. The figures are then analysed to show 1 month, 3 month and 12 month changes in rents.

Chris Horne Director of Welland Media Ltd who are launching the Rent Index comments:

"We have been aware for some time, that unlike house prices there was a definite shortage of information on residential rents. When trying to find out what the average rent was, nobody seemed to know."

"We wanted to provide a single figure for UK private sector rents that would tell people at a glance what the average rent was, and whether rents were going up or down, a kind of FTSE 100 for private sector rents"

The Rent Index launches at the end of March and uses data from thousands of UK landlords.

For more information on the Rent Index contact:

Chris Horne
08458684070
chris.horne@propertyhawk.co.uk



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Friday 13 March 2009

The Rent Index - Gets Set to Launch


Here's where we start to show the average rental amount on let residential property.

The rent index shows the average rents on properties throughout England and Wales.

The idea behind it is to give a clear indication as to whether rents are going up or down, and by exactly how much.

As with all good indices the aim of the rent index is to be simple and clear to understand.

The rent index figure is directly transposed from the rate in pounds. ie, If the rent index stands at 500.000 then it equates to the average rent in England and Wales equaling £500.00.

Bare with us as we prepare for launch.

We hope the rental index will be of use to landlords, property investors, letting agents, journalists and researchers.