You are here: Home - News -

Rents rise in home counties as commuters move east

by: Christine Toner
  • 03/08/2017
  • 0
Rents rise in home counties as commuters move east
Rents in the East of England rose faster than in any other UK region over the last 12 months at 2.35%, according to the latest Landbay Rental Index.

Growth in the region was four times higher than the UK average of 0.64%.

Landbay said the increase was a result of long distance commuters moving east for lower price accommodation.

Of the five commuter belt hotspots outside the M25 with the highest rent hikes, four are found in the East of England: Luton (up 4.23%), Peterborough (3.75%), Thurrock (3.56%) and Bedfordshire (3.19%), and all had average rents less than half the London average of £1,873.

This is despite rents in London having fallen by 1.05%.

John Goodall (pictured), chief executive officer and founder of Landbay said: “With rising inflation and rock-bottom interest rates it is little surprise to see demand in the more affordable Home Counties rising faster than pricier parts of London and the South East.

“Naturally these surrounding areas are starting to experience a surge in rental prices, creating a ripple effect out from the capital. There are of course a number of factors at play, but as yields tighten in the capital landlords may well be branching out to the East of England in a bid to meet this demand.”

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
  • RT @robjupp: Great day yesterday for donations to @MortSleepOut. With Gift Aid, we are now close to £17,000. It would be great to get to £2…

Read previous post:
Mortgage brokers among most satisfied with FCA performance

Industry satisfaction with the Financial Conduct Authority (FCA) has grown to its highest level since 2008 while views of its...

Close