£827 per month is the mean rental for a property across England according to the most recent bi-annual data published by the Valuation Office, with North East England offering the lowest rents, and London the highest, at twice the England average.
Unsurprisingly nine of the ten most expensive areas to live are boroughs within London, Elmbridge, Surrey the only authority outside the capital to make the top ten, with a mean monthly rent of £1,821. Across eighteen local authority districts, mean monthly rents are below £500.
Official statistics indicate rental values are rising fastest across the East Midlands, East of England and South West, at over 2% per year. All regions of England are experiencing growth with the exception of London where rental values fell by 0.2% in the year to May.
The Valuation Office produce mean, lower quartile (the bottom 25% of rents), median (middle) and upper quartile (the top 25% of rents) figures for properties with different numbers of bedrooms. Keep an eye out for more of our rental market stats coming soon.
If you would like to review your rental property or portfolio with our local specialists Daniel or Natalie, please call us on 01509 672328
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