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Worcester lettings market overview

A short supply of housing is pushing up rents and house prices in the City. Over the last 12 months, the average rent achieved for properties let in Worcester was £717 per month. This is a +2% change on the previous 12 month period, which is great news for landlords.

37% of properties let in the past 12 months were flats, achieving an average rental value of £612 per month. Houses achieved an average rent of £801 per month. The UK currently has the highest number of private renters in the country's history, with young professionals aged 25 to 34 making up the largest proportion.

Katie Chesterman, Property Management and Lettings Manager at Andrew Grant comments:

“It’s clearly evident that demand for rental property is outweighing the supply, which ultimately means that now may be the ideal time to consider becoming a landlord.

Contact us for more information on letting your property 0330 22 11 222 or email pm@andrew-grant.co.uk

 

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