Dec
8
Belfast rent prices hold up as house sales sag
Filed Under Belfast Property News, Blogroll, Citylets Rental Reports, Market News, Renting news by DanCookson | Leave a Comment
Large deposit requirements and a still sluggish local sales market continue to prop up rent prices in and around Belfast, with values holding their own in the face of steady tenant demand, our latest report shows.
According to the latest quarterly figures for Q3 2011 landlords in the city are now charging an average £590 a month, little changed on the same period a year ago.
Chart_rent v house price index
May
13
The Citylets Belfast Quarterly Report Q1 2011
Filed Under Belfast Property News, Citylets Rental Reports, Citylets.co.uk News, Renting news, Uncategorized by DanCookson | Leave a Comment
Property renters living in and around Belfast are paying 4.2% more in rent than they did a year ago, according to the results of our most recent report (Trends in Belfast Private Rented Sector) published on Thursday 12th May. Strong demand from would be first-time buyers helped push up average rent prices over the last 12 months, particularly for one-bedroom apartments, which recorded a hike of almost 8%.
Our Belfast lettings report is the fifth since it was launched at the beginning of 2010 , and the average rent paid across all property types at the end of March 2011 was £567- up from £544 a year ago. The average monthly rent for a one-bedroom apartment was £492 against £456 at the end of March last year, while the average monthly rent for a two-bedroom apartment grew by almost 3% to £587.
This rental growth is in marked contrast to the housing sales market which has experienced a steady decline in average prices since August 2007. The chart below illustrates the comparative stability of rental values to house prices since 2008.
Feb
11
The Citylets Belfast quarterly report Q4 2010
Filed Under Belfast Property News, Citylets Rental Reports, Did you Know...?, Letting agents, Market News, Uncategorized by DanCookson | Comments Off
Our Citylets Belfast quarterly report Q4 2010 was released this week and we were delighted with the coverage it received in the media. The Private Rented Sector is playing an increasingly pivotal role in the provision of housing in Northern Ireland and our ongoing monitoring of trends in both rent values and ‘time to let’ is recognised as being of real relevance in a sector that has not traditionally had much meaningful current research.
http://www.build.ie/construction_news.asp?newsid=122718
The overall Time to Let (TTL) for the greater Belfast Area lengthened in Q3 to 56 days which seems to have led to a softening of overall rent values in Q4. Encouragingly though the TTL figures dropped in Q4 2010 to 48 days which bodes well for rental values in Q1 2011.
To download your copy of the latest report visit http://www.citylets.co.uk/reports/
Oct
20
Belfast Rental Report Q3 2010
Filed Under Belfast Property News, Citylets Rental Reports, Citylets.co.uk News by DanCookson | Leave a Comment
The 3rd issue of our quarterly report into the private rented sector (PRS) in Belfast (Q3 2010) received some excellent coverage in the local media. TV, Print, Radio and Online Media all covered the story http://www.bbc.co.uk/news/uk-northern-ireland-11571628
Key findings from the report include a more than 7% rise in average monthly rents from the beginning of 2010 Q1 (£544) to Q3 (£564) though year on year figure represented a slight decline of 0.5%. However, the time it takes a landlord to let a property has increased by 8 days during the third quarter to an average 56 days. This suggests that while the demand for PRS is increasing there is still a plentiful supply of private rented stock which is providing tenants plenty of choice.
To download your copy of the latest report visit http://www.citylets.co.uk/reports/
Aug
11
Belfast Rental Report Q2 2010
Filed Under Belfast Property News, Citylets Rental Reports, Market News, Renting news by DanCookson | Leave a Comment
The second issue of our quarterly report into the private rented sector in Belfast (Q2 2010) received some excellent coverage in the local media. Print, Radio and Online Media all covered the story (Irish Times and Belfast Telegraph) as well as specialist Property media such as PropertyWeek .
Key findings from the report include a 3.7% rise in average monthly rents from Q1 (£544) to Q2 (£564) though this represented an annual decline of 6.6%. However, the average time it takes a landlord to let a property has continued to fall over the year for all property sizes.
To download your copy of the latest report visit http://www.citylets.co.uk/reports/
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