Three bed homes see fastest rent rises in the UK

by Jason McClean

8:45 AM, 1st October 2015
About 3 years ago

Three bed homes see fastest rent rises in the UK

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Three bed homes see fastest rent rises in the UK

UK rents are increasing at a rate of 4.6% year on year for three bedroom homes, according to a new index.rent rises

This is higher than the rise experienced by all other UK properties, which averages 3.3%.
Areas located within a commutable distance of London are experiencing the highest rental growth for three bedroom properties.

In Windsor and Maidenhead, three bedroom homes were up 22% to £1,936, while in Southend on Sea they were up 20% to £1,121 and Swindon up £13% to £813.

The new index is the first to track rental trends to county and London borough level in combination with the number of bedrooms and is provided by Landbay Rental.

Rents have climbed by 3.3% in the last year across the UK as a whole to £1,281 and this is ahead of inflation.

While rents have continued to climb year on year, the rate at which they are growing has eased from a high of 4.9% in February.

A spokesperson for Discount Insurance said: “From the data revealed by the new index, three bedroom properties in the south east appear to be a good investment for landlords at the moment.”

“However, it is important to remember that the market can change very quickly and decisions on purchasing a new BTL should be considered carefully,” added the spokesperson.

Across all property sizes, the top rental rises outside of London were found in Wrexham up 11.1%, York (up 12.2%) and Southend on Sea up (12.6%).

On the other hand, the biggest fall in rents occurred in Buckinghamshire down 3.5%, Aberdeen City down 5.7% and Cheshire down 6.9%.

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