Top 10 towns and cities that will bear the brunt of rising rents

by Property 118

18:18 PM, 9th July 2018
About 5 months ago

Top 10 towns and cities that will bear the brunt of rising rents

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Top 10 towns and cities that will bear the brunt of rising rents

Two million tenants across the UK could be hit with rent rises in 2018, with Walsall topping the list of the 10 places where the highest number of tenants will face rent increases.

Over 70% of tenants in the West Midlands town could be hit with higher rents, costing them £155 more a year, as landlords say they will have no choice, but to hike up prices.

Tenants in Wrexham are also likely to see big increases, with 70% of landlords planning rent increases, costing each tenant an average of £161 extra per year, according to a study by online letting agent MakeUrMove.

Other cities in the top ten include St Albans, where 64% of tenants could face increases, and Leicester, with up to 59% of tenants in the city set to pay more.

Alexandra Morris, managing director of MakeUrMove said: “The impending tenant fees ban, loss of mortgage interest tax reliefs and regulatory changes have all combined to create a perfect storm of financial pressures. It’s likely that 2018 will be the year that sees tenants feel the biggest impact yet from the recent changes introduced to the private rental sector.

“We can see from our research that increases are going to be felt not just in the major cities, but in smaller towns and cities across the UK, from Portsmouth all the way to Dundee.

“We know many tenants in these areas are already stretching their monthly budgets to afford rental properties, and additional rent increases could be the final straw, tipping them into debt or rent arrears.”

Newcastle upon Tyne and Sunderland are the only places in the North of England in the top ten, while Dundee is the only Scottish city to make the list.

Tenants living in Carlisle and Swansea fare the best of anywhere in Britain, with none of the landlords surveyed by MakeUrMove in those areas reporting they planned rent increases in 2018.

Morris added: “The rental market differs throughout the country, but what is striking from our study is the widespread nature of these rent increases.

“Although we recognise that professionalisation of the private rental sector is important, it’s essential the Government doesn’t make tenants the unintended victims of their drive for increased regulation.”

Top 10 places tenants will face rent increases:

  1. Walsall – 71% of landlords will increase rents

Average annual rent increase: £155

  1. Wrexham – 70% of landlords will increase rents

Average annual rent increase: £161

  1. St Albans – 64% of landlords will increase rents

Average annual rent increase: £424

  1. Portsmouth – 61% of landlords will increase rents

Average annual rent increase: £316

  1. Leicester – 59% of landlords will increase rents

Average annual rent increase: £227

  1. Newcastle Upon Tyne – 53% of landlords will increase rents

Average annual rent increase: £255

  1. Bath – 50% of landlords will increase rents

Average annual rent increase: £417

  1. Coventry – 50% of landlords will increase rents

Average annual rent increase: £343

  1. Dundee – 50% of landlords will increase rents

Average annual rent increase: £167

  1. Sunderland – 50% of landlords will increase rents

Average annual rent increase: £167



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