- Wed 12 Jan 2022
Throughout 2021 we saw a huge imbalance of supply and demand in the rental sector and as we move into 2022, this doesn’t look like changing just yet. As a result of the unprecedented demand the South West has seen the biggest hike in month on month rent prices. Whereas London rent prices have taken a fall, which supports the idea of many people migrating to the South West to enjoy a better way of life after the various lockdowns bringing alight the importance of escaping the city and enjoying the fresh air the countryside has to offer.
The South West has seen the biggest month on month increase in rent prices at 2%, making the average UK rent now £893 when excluding London. In November 2021 the average rental prices in the South West was at £964 per calendar month and just one month later, in December 2021 we saw the average monthly rent price at £983 which shows the monthly rental increase to be 2% - the biggest increase in the UK in 2021!
Jayne Cardew, Bradleys Group Rentals Manager commented “It’s to no surprise that the monthly rental prices are increasing in the South West, with it being a very desirable place to live before the pandemic began we are only going to see the prices rise even further with the demand of homes also increasing. To support this, as the supply of rental homes is at an historic low, now more than ever is a great time to begin your buy-to-let journey or precede to grow your current portfolio. This demand isn’t going away anytime soon.”
At Bradleys Estate Agents we have a specialist Property Management team alongside our 30 offices covering Devon, Cornwall and Somerset. We offer Bronze, Silver and Gold Landlord services packages to provide you with security and comfort, knowing that your property is leased by tenants that have passed stringent checks and that your let remains fully compliant with the ever changing laws. If you are considering investing in a rental property, please don’t hesitate to get in touch with your local branch today or arrange a rental valuation on your property by clicking here.