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RPI : Healthy Lettings Market
  News from the Residential Property Investor, the bi-monthly magazine for RLA members

other articles from the September / October 2005 issue

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HEALTHY LETTINGS MARKET

Most letting agents believe that the rental market is good, according to a survey collated this summer over a three-month period. The information was compiled by C.A.R.L. Communications, a services company for the lettings industry.

AREA SW SE EA Wales Lond E Mid W Mid NE NW North Scot NI
Market condition 1.2 1.2 1.7 1.4 0.7 1.1 1.5 1.4 1.2 1.2 1.4 1.3
No of weeks to let 2.4 2.3 2.5 2.2 2.8 2.4 2.3 2.5 2.5 2.4 2.1 3.5
Average rent £ 616 641 555 443 778 540 512 472 451 451 553 450
Gross yield % 4.49 4.21 5.12 4.89 4.03 4.85 4.57 4.75 5.29 3.87 7.21 4.56

Notes: 1) Market condition is an index based on the opinion of agents as to whether the market is good or bad: anything above zero is positive. 2) Number of weeks to let is the opinion of agents as to how long it takes to let the average property. 3) The average rent is the opinion of agents as to what would be achieved on a modern two-bed property. 4) Gross yield is based on such a two-bed property.


 

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