Rents rise a tiny 0.56 per cent in 12 months, says buy to let lender

Rents rise a tiny 0.56 per cent in 12 months, says buy to let lender


Todays other news
A reversal of remote working as well as attempts to...
John D Wood & Co has appointed a new lettings...
The Lettings Hub has launched a new product to help...
Proptech supplier Property Sense is looking to raise £1m in...


UK rents grew by a tiny 0.56 per cent in 2017 according to specialist lender Landbay.

However, in a special exercise, the firm also calculated how London commuters who rent have been hit by increases – and the research shows that tenants in almost half of London’s most popular commuter towns face a greater overall financial burden from growing rents than from train fares.

Of the capital’s 40 commuter belt hotspots, all found in the East or South East of England, 17 towns are being hit with a double blow, with extra annual expenditure on rail fares surpassed by spending on higher rents.

Average rents in these 17 towns rose by an average of £183 (1.68 per cent) in the year to December, while rail fares have jumped by an average of £142 (3.6 per cent). 

Combining annual rental and rail fare increases, commuters in these regions are facing a total additional outlay of £325 a year. 

Cambridge and Brighton have seen the greatest monetary rise in rents, £228 (2.06 per cent) and £202 (1.58 per cent) respectively, as rail fares in both regions rose by £172 and £163.

A further six towns in London’s commuter belt saw rents rise by more than one per cent in 2017, double that of the UK average. 

Luton, Hastings, Basingstoke, Ashford, Canterbury and Horsham have seen rents rise by an average of £146, almost as much as the average £166 increase in rail fares.

Commuters living in Guildford, Reigate and Woking, which all saw rents fall by £127 (0.73 per cent) in 2017, will be saving enough to offset the rail fare hikes of £126, £99 and £113 respectively.

Those in Aylesbury and High Wycombe (£43) and Slough (£4), have also made rent savings, but hardly enough to chip away at the £141, £124 and £91 increase to train fares.

Landbay says there are now signs that demand for low-rent accommodation by long-distance commuters to London is pushing up rents in these areas. 

Share this article ...

Join the conversation: Login and have your say

Want to comment on this story? Our focus is on providing a platform for you to share your insights and views and we welcome contributions. All comments are screened using specialist software and may be reviewed by our editorial team before publication. Letting Agent Today reserves the right to edit, withhold or delete comments that violate our guidelines, including those that harass, degrade, or intimidate others. Users who post such content may be banned from commenting.
By commenting, you agree to our Commenting Terms of Use.
Recommended for you
Related Articles
Liam Monaghan is managing director of London Central Portfolio...
The homes were originally sold under the controversial Right To...
Renters’ budgets remain strong while rent levels are holding firm...
It’s snapped up boutique Battersea agency Hamnett & Ganpot...
The BoE has come to a decision on interest rates...
The removal of temporary rent controls may make buy-to-let more...
There will be a greater emphasis on digitisation....
Recommended for you
Latest Features
A reversal of remote working as well as attempts to...
John D Wood & Co has appointed a new lettings...
Sponsored Content
With less than a month to go until the UK...
The UK government has implemented 16 financial sanctions rule changes...
The owners of the Rentman software application (for property Lettings...

Send to a friend

In order to send this article to a friend you must first login. Click on the button below to login or sign up.

No one likes pop-ups ...
But while you're here