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Buy to Let

Southern towns are biggest rental hotspots

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
12/06/2015

Stevenage has seen the biggest increase in rents during the last year, with prices growing across southern England.

Research from property portal Rightmove showed Stevenage in Hertfordshire had seen the biggest growth in asking prices in the last 12 months.

A typical property now costs £833 per month in the town, a huge 11.3% increase on the £748 per month recorded last year.

Essex dominated the rest of the top ten with Southend, Wickford, Basildon, Grays, Chelmsford and Braintree all featuring.

Other places to have seen big rent increases were in southern England. These included Dartford in Kent, Bristol and Wellingborough in Northamptonshire.

All of these areas grew at least 4% faster than the rest of the country.

In London prices grew in areas that had previously lagged behind the rest of the capital such as Sidcup, Bexleyheath and Edmonton.

Sam Mitchell, head of lettings at Rightmove, said: “Demand for quality rental properties is at a record high, and the most sought after areas such as Stevenage and places in Essex are all within easy commuting distance of the capital.

“All of these hotspots benefit from an average asking rent of under £1,000 per month compared to the Greater London average of over double that.”

Mitchell said in these popular locations landlords were able to make increasing demands of tenants.

“In these areas of high demand it’s more important than ever for tenants to know how to make themselves desirable to landlords, so having their finances in order and good references is key to getting the property they want in such a fast paced market.”


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