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New trends emerge from latest Rental Index

Posted on 2011-07-06

HomeLet’s latest Rental Index highlights some key emerging shifts in the lettings industry, and offers an even more fascinating insight into UK tenants than last month.

June’s Rental Index now not only includes details of the monthly change in UK rental prices and tenants’ gender and age, but also their average income – so it gives an even deeper insight into the industry.

What’s emerged this month is that although there are still large variations in UK regional rental prices, the average amount increased in June from May – with the average rental amount in the UK now being £750 (you can view the regional rental prices map here).

With regard to tenants, the report shows an increase in the number of younger people renting properties than this time last year. Also despite the recession, tenants’ average income has increased by 3.7% from this time last year to £27,000.

Another new feature in June’s edition is the first of a series of regional focuses – the first one being on Greater London. Last month this region was referred to as ‘London’ – however, following customer feedback, the area has been widened by including all postcodes within the M25.

John Boyle, HomeLet’s Managing Director, said: “HomeLet’s first Rental Index was very well received by letting agents, landlords, tenants and the media around the country. The response following its launch was massive, and we were extremely pleased to hear how much people enjoyed the report.

“With the inclusion of more tenant data, June’s edition is an even more robust HomeLet Rental Index. When you take into account we gather data from over 3,000 letting agents, and reveal statistics that no other report offers, I am proud and confident to say this is the most comprehensive rental index the lettings industry has ever seen.”

If you would like to see the full report, please email mediaenquiries@homelet.co.uk and the Marketing team will send you a copy. You can also see a summary of the report by visiting homelet.co.uk/rentalindex

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