The housing market has been a major Hot Topic in the press over the past few years and it seems that rising rents have stolen the headlines in recent months. Homelet, the UK’s largest referencing agency released their latest Index report this week and it makes for interesting reading.
“Comparing September figures to the previous month, the Index reveals that only three regions have seen rent prices rise since August. In the three months to September 2015 only Scotland, the East Midlands and West Midlands have seen prices rise – by 1.2 per cent, 1.4 per cent and 1.4 per cent respectively.
Every other region of the UK has seen rent prices fall modestly in the three months to September 2015, with the largest price reductions seen in the South West, the North East and North West at -2.4 per cent, -2.3 per cent and -2.2 per cent respectively… Read more here …
The UK regional breakdown shows an annual growth of only 1% in Wales, (which equates to £5.50 on the average price of a rental in Wales) so are we seeing rents rising in Swansea? Not really, unless the property has recently been renovated or modernised, but the good news for investors is with all the investment planned for Swansea in the next few years rents should be set to rise as demand for quality accommodation increases. With this in mind now is a great time to invest in property in Swansea.
Like this topic? Why not give us a call or pop into our office in Killay to discuss our thoughts on the Swansea rental market in more detail?!