INCREASING NUMBER OF PROPERTIES ARE LET FURNISHED

News at Newton Fallowell | 09/07/2019



 

  • The number of properties let part or fully furnished across England and Wales is increasing, accounting for 31% of properties let over the past year, up 3% year on year. The proportion of apartments let furnished remains over twice that of houses.
  • The proportion of properties let furnished has increased in all regions of England and Wales, except for Yorkshire and the Humber, which has seen a slight decrease from a year ago.
  • Across London, two-thirds of apartments and half of houses are rented either part or fully furnished, significantly higher than any other region.
  • Furnished apartments, on average (excluding London), rent for £78 more per month, equating to just under £940 more per year, offering a 11% premium over unfurnished lets.
  • Based on an estimated cost of £2,000–£2,500 to functionally furnish a two-bedroom apartment, for those renting it would take two to three years of living in a property to re-coup the cost of self-furnishing.
  • This infographic is one of three released together on 'Increasing number of properties are let furnished'. See the Infographic Archive.

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