Gumtree Rental Price Index: First signs of recovery since 2007

TV property expert Phil Spencer comments in our Rental Price IndexWe all know the rental market has been a bit tough of late, which saw the rise of ‘accidental landlords’ and the market being flooded by rental properties. But here’s some good news for you landlords: our latest findings show that the UK rental market is at a turning point after more than a year in decline.

We teamed up with TV property expert Phil Spencer, who’s hosted shows like Location, Location, Location, to comment on the latest trends in the rental market for our Rental Price Index, an analysis of all our listings to help landlords and tenants see how rent measures up regionally across the UK.

Using analysis from our website data that tracks over 1.2 million rental property listings from private individuals, professional landlords and major high street real estate agents, our Index shows that rental prices in several London boroughs, as well as Oxford, Sheffield, and Leeds are now showing signs of settling and even rising.

It’s still not quite hunky-dory for London tenants though. Rents in London are still the most expensive in the UK, with the monthly average at £1,127, double the national average. Derby, Bolton and Sheffield are cheaper options and show great value for money with some of the UK’s lowest monthly rents, if you’re willing to move.

Check out the details and stats for your region in our Index. Download the Rental Price Index now.

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16/9/09 at 6:00am by Darika in General

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16 Responses to “Gumtree Rental Price Index: First signs of recovery since 2007”

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  11. TBPL says:

    I’d like to see a bit more detail in this report as I think it’s a big statement to headline a report with ‘First signs of recovery since 2007′.

    As a data sample, should the rental rates asked by Gumtree advertisers be taken as representative of the overall market and what significance does the increase in property adverts have? That more properties are being rented? That renters are moving around more? Or that Gumtree is simply becoming a more popular place for people to advertise rental properties?

    The most solid conclusion from the report is that London rental prices are frightening for those of us outside the capital!

    Read more UK property commentary http://www.thebigpropertylist.blogspot.com
    Sell or rent your house privately on http://www.thebigpropertylist.co.uk

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  13. Darika says:

    I don’t know much about the math, I do know as a London dweller that I certainly feel the shift in prices

  14. Yes, inclined to agree with the above comment. Surely % changes are only beneficial to investors looking for a return. Even if london rental prices were to half, cardiff would still be cheaper!

  15. This is very interesting but i’m not really convinced that showing percentage changes in rent can really help the tenant search for a better bargain. Maybe it would be a better statistic if it were linked to the overall cost of rent for that city?

    Squidge Mann

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