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Landbay: Commuter hotspot rent rises – and falls – revealed

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  • 05/01/2018
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Landbay: Commuter hotspot rent rises – and falls – revealed
Rents in almost half of popular capital commuter towns increased in 2017 – dealing tenants absorbing higher rails costs a double financial blow, according to Landbay.

 

 

The price of renting a home annually jumped by a typical £183 or 1.68% across 17 commuter hotspots with access to London.

It comes as train ticket prices increased rise by an average of 3.6% across the UK.

Cambridge and Brighton have seen the biggest cost rises in rents in 2017 of 2.06% and 1.58% respectively.

Rents in Luton, Hastings, Basingstoke, Ashford, Canterbury and Horsham have also increased by more than 1% – working out at an average £146.

 

Rents fell in some areas

However, in some towns, commuters have benefited from a fall in rents.

Guildford, Reigate and Woking rents fell by a typical £127 or -0.73% last year – helping to ease rising travel costs.

Tenant costs in Aylesbury, High Wycombe and Slough also edged down in 2017.

In London, rents dropped by 0.8%, according to Landbay – using Mortgage Industry Advisory Corporation data – and increases across the UK grew by 0.56% in 2017.

John Goodall, chief executive of Landbay, said: “Commuters have seen their season ticket prices rise by more than £100 this week, the vast majority of whom are also looking at a double whammy of rent rises driven by greater tenant demand.

“At a time when rents in the capital are falling, some may even be considering a move into London, to be done with the train commute altogether.”

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