The rise and fall of the Private Rental Sector throughout the credit crunch and beyondAnalysis, Background
Belvoir, which has produced a quarterly rental index since March 2008, has now published an online Decade of Data report, charting the rise and fall of the Private Rental Sector (PRS) throughout the credit crunch and beyond.
Here are some key points from Belvoir’s Decade of Data report:
- On average, in the South East, West, East Anglia and East Midlands, rents did not increase back to the heights of 2008 until 2004 – six years later.
- In the West Midlands and Yorkshire rents were recovering to previous heights in 2010, then remained relatively static until 2012.
- London rents recovered from their falls relatively quickly, with average rents in 2012 matching rents achieved in 2007/8, remaining static from 2013 through to 2015.
- In the North West rents have been relatively stable throughout the last 10 years.
- In the past ten years Belvoir franchisees have reported a growth in the percentage of rented two bed flats versus two bed houses, coupled with an increase in three bed houses.
- In 2008, 80% of Belvoir agents competed against fewer than 30 agents. Today almost 75% of agents are competing with over 30 agents, and 20% are competing with in excess of 100 agents.
To read the Belvoir Decade of Data report in full please visit https://www.belvoir.co.uk/pages/rental-index