Asking price rents rise – and the only way is Essex

Average asking price rents rose 4.5% on an annual basis during the third quarter of this year, Rightmove reported this morning.

The portal says that average asking price rents per month now stand at £762 across the country, excluding London.

Greater London average asking rents are far higher at £2,014 per month.

The portal also reports that where landlords’ returns are concerned, the only way is Essex.

Rightmove names Halstead in Essex as the top hotspot, with landlords seeing a total return on investment of over 25%.

It is followed in the top ten charts by Borehamwood, Hertfordshire; Brentwood, Essex; Cottingham, Yorkshire; and Purfleet, Essex.

Sam Mitchell, head of lettings at Rightmove, said rents could rise further if landlords quit the market because of the Chancellor’s clampdown on claimable allowances.

He said: “It remains to be seen how much of an impact the new policy will have, but in the right areas and with proper advice and management, property remains an attractive investment.”


Email the story to a friend

One Comment

  1. Will

    That of course is providing the SNP stay in Scotland!


You must be logged in to report this comment!

Comments are closed.

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.