In East Anglia, the average rent for Q1 2015 was £697 per month. Compared to £685 per month, which is the Q1 2014 average rent, this shows a small increase of 1.75%, year on year.
Comparing the Q1 2015 average rent to the 2014 annual average rent of £697, there is no change in rental levels.
Rents remained stable for half of the offices during Q1 2015, with a quarter of offices experiencing slight rises, including Bury St. Edmunds and Huntingdon, and a quarter experiencing a slight falls, including Cambridge.
Local buy-to-let expert commentary:
Belvoir Cambridge reports:
“Quarter 1 for 2015 has been a busy quarter. The market is Cambridge does peak in line with the academic calendar, with so many tenants coming from education establishments: students, teacher, post graduates and overseas placement. Therefore January and February are busy periods; with a slight softening in March and April, until the summer season gets underway in June.
“January to March months see a lot of interest in family houses and apartments, with the room market being more active in the summer season. There is a lot of activity in the south of Cambridge with releases of new builds in the Trumpington area. The North of Cambridge is seeing rents still increase and a large interest from investors with news of the new train station.
“2014 Quarter 1 saw similar letting numbers for our individual office, however December and January were slightly busier.”