Leicester rental growth is the highest in England & Wales!

Chart to show Leicester rental growth

The average Leicester rental growth is growing at over FOUR times the national average!

The latest data and analysis from Landbay has shown that the average rent for a property in England grew by 0.64% in the year to April 2018, as falling rents in London continued to weigh down on otherwise resilient rental growth in the rest of England.

According to Landbay’s report, hotspots for rental growth over the last 12 months include Leicester (3.02%), Nottingham (2.96%) and Northamptonshire (2.44%), with eight of the top ten ‘rental risers’ situated in either the East Midlands or East of England. The two regions, as well as the South West, continue to lead the way in terms of rental growth, with annual increases of 2.06%, 1.50%, and 1.54% respectively.*

Will Ravenhill, Director at Readings commented:

“Wow! These figures really do show that the rental market in Leicester is not only growing well above the national average, but that this growth would appear to be sustainable. Although the national growth figures of 0.64% have been skewed by the big falls in rental prices in parts of London, our area really does seem to be bucking the trend!

A mixture of affordable property prices and rents in relation to national averages, combined with good transport infrastructure and employment levels means there’s no reason why this trend shouldn’t continue locally.

As a company, our heritage in the local property market dates back to 1935 in some way, shape or form. We’re currently offering FREE property “health checks” to potential new landlords. It’s really important to make sure that your properties are compliant. If you’re interested in finding out more, please call us on 0116 2227575 or visit our Landlord Advice section.”

*Source: Landbay, Property Reporter 3rd May 2018