The rental index for Belvoir Quarter 1 2017 has been released which looks at the rents Belvoir offices are achieving across the UK. It is produced by property professional Kate Faulkner and is available at www.belvoir.co.uk.
The overall trend for the UK shows the average rent of a property is at an all time high and up 4.5% versus Q1 2016.
Looking more locally at the East Midlands our rents in Q1 2017 have recorded a 7.5 % increase when compared to the same period in 2016. This certainly reflects what we are seeing in Bingham.
The reasons for the increase can be due to the larger number of higher value properties, which when coupled with less rental stock in the market can artificially raise the year on year rental increase.
However we are seeing a new trend in offices throughout the UK. There are increases in rents where there is a low availability of properties on the rental market. This is something we see in the Bingham and surrounding villages. The demand from tenants and the lack of supply of rental property is certainly increasing the rents we can achieve.
If you would like advice on what a rental property can achieve give me a call on 01949 714101 or look at my blog for potential buy to let properties in the area.