6 Oct

Demand up for three bed rentals

Demand up for three bed rentals

Demand for three-bedroom property rentals has increased by 4.6 per cent over the past 12 months, according to new figures.

The latest index from Landbay Rental shows demand for properties offering three-bedrooms to rent has rose more than any other form of home.

In particular, demand is higher for three-bed properties that are within commutable distance to London. Windsor and Maidenhead have seen a 22 per cent increase in monthly rent over the past year - reaching £1,936, while Southend on Sea has seen a 20 per cent rise.

Across the UK as a whole, rents increased by 3.3 per cent - significantly ahead of inflation. However there was a slight drop in average rental prices between May and July following record highs in February.

John Goodall, chief executive officer of Landbay, explained the need for a rental index that will allow more on an insight into what is happening with the UK rental market.

 "At the national level, rents performed very strongly in 2014 after a dip in 2013. This year has seen rents continue to grow, but at a slower rate," said Mr Goodall.

He added: "For investors in the private rental sector, our data makes family homes in the south east look like an attractive proposition. As well as performing well now, rents for three bedroom homes saw the smallest falls when rents dipped in 2013.  The challenge for investors looking to benefit is finding suitable properties for professionals at a cost that produces a good yield."ADNFCR-1222-ID-801802370-ADNFCR

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