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.