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Rents rose in January, survey reveals
Rental figures from the January 2015 HomeLet Rental Index
Region
December
2014
Monthly
variation
January
2014
Annual
variation
East Midlands
£617
£581
6.2%
£572
7.9%
Scotland
£651
£616
5.7%
£595
9.4%
East Anglia
£762
£726
5.0%
£750
1.6%
South West
£830
£802
3.5%
£750
10.2%
Yorkshire & Humber
New findings from the HomeLet
Rental Index have revealed that the
rental market has returned to growth
in 2015, with the average rent on
new tenancies signed in January 2.5
per cent higher than in the previous
month. Nine out of twelve regions in
the UK have seen prices rise, with only
the North East of England, Northern
Ireland and the West Midlands seeing
a decline in rental prices.
The HomeLet Rental Index figures for
January 2015 reveal that after a period
of seasonal adjustment towards the end
of 2014, which saw rental prices falling
in many parts of the country, the rental
market has started 2015 with a return
to growth. The average rent in the UK is
now £889, compared to £867 at the end
of 2014, and £799 in January 2014.
The figures show the highest growth
occurring in the East Midlands, Scotland
and East Anglia with rents rising 6.2
per cent, 5.7 per cent and 5 per cent
respectively.
January
2015
£613
£594
3.2%
£557
10.1%
Greater London
£1,425
£1,393
2.3%
£1,257
13.4%
Wales
£586
£573
2.3%
£580
1.0%
North West
£650
£645
0.8%
£619
5.0%
South East
£873
£867
0.7%
£838
4.2%
Northern Ireland
£556
£559
-0.5%
£569
-2.3%
West Midlands
£635
£642
-1.1%
£606
4.8%
North East
£518
£532
-2.6%
£505
2.6%
Overall UK
average
£889
£867
2.5%
£799
11.2%
UK excluding
Greater London
£707
£694
1.7%
£673
5%
Based
on new
tenancies
in Jan 2015
Based
on new
tenancies
in Dec 2014
Monthly
growth
Dec 2014–
Jan 2015
Based
on new
tenancies
in Jan 2014
Comparison
of rent prices
Jan 2014 to
Jan 2015
Notes: source
HomeLet
New contender for property rental web leader
In less than six months, internet
property rental platform, Movebubble,
has surpassed 1,000,000 property
searches and has 30,000 community
members, making it a new contender
in the property rental space.
“It is exciting to be leveraging
technology and leading the ‘Proptech’
charge
against
bigger,
more
established players in the property
rental space, and seeing traction! They
should sit up and take notice of what is
going on; we are about to shake up the
status quo in UK rentals,” said Aidan
Rushby, CEO of Movebubble.
Movebubble helps renters, private
landlords and agents build and
showcase their rental reputations and
connect directly with one another.
It has just launched a new feature
enabling landlords and agents to
search for and connect with tenants
looking in their area.
According to the company, this new
approach to property rentals puts the
renter in control. Renters now don’t
have to worry about searching for a new
home, as rental properties will come
to them. This helps the best renters
get the best properties and gives the
22 Landlord & Buy-to-Let Issue 57 • March 2015
renter a much-needed and refreshing
alternative to the crowded property
listing websites that exist.
Movebubble says this shows its
dedication to championing the renter,
and making renting more open and
transparent. In a recent Censuswide
survey, 92% of renters agreed they
would like to see references from
landlords.
Movebubble
enables
users to rate one another, helping
good users avoid bad users; much
like Airbnb and Uber have done for
short-term rentals and ordering
taxis, respectively.