Belvoir’s Q2 2020 rental index provides a fascinating insight into the UK rental market during two months of lockdown. Average rents for Belvoir offices in England, Scotland and Wales decreased in in April, May and June 2020 by around 3.5% versus the same period last year, although when comparing Q2 2020 to the 2019 annual average the decrease is just 1%.
“Belvoir’s data is extremely robust as we look at advertised rents from our offices that have been trading for 8+ years,” says Belvoir CEO Dorian Gonsalves. “Naturally our offices were advertising less properties during lockdown compared to the same period in 2019, but the overall picture confirms that rents did not fall dramatically, and landlords have not pushed prices up.
“It is important to note that there will always be regional variations across the country regarding tenant demand for houses, flats and HMOs, and the rents that are being achieved. Belvoir’s Q2 rental index, which is made freely available on our website, is an invaluable resource for landlords and investors, as it looks at landlord and tenant trends, with predictions for what is likely to happen to the market going forward. If you are an investor it is always advisable to regularly check how rents are performing in your region and note which types of property are in short supply, or where there might be an oversupply.
“Belvoir’s Q2 rental index, which is prepared for us by TV property expert Kate Faulkner, is an invaluable free resource, containing in-depth regional information on rents and tenant demand across the country, together with predictions of how these trends are likely to continue for the rest of the year. As well as checking out our rental index we also recommend landlords to a reputable local agent who has expert knowledge of their area.”
To view Belvoir’s full press release about the Belvoir Q2 rental index click here.
Belvoir’s Q2 rental index can be viewed here: https://www.belvoir.co.uk/pages/rental-index