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Wurzel Of Highbridge

Q4 2013 Rental Reports.

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So where can I get a credible rental report from these days?

I don't count LSL property as a creditable source.

Savills and Rightmove seemed to stop publishing theirs earlier this year and it is making me a little suspect.

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Found one: Countrywide (If you can call an estate agency credible)

http://www.countrywide.co.uk/news/countrywide-monthly-lettings-index-november-2013/

Region			Ave Rent Nov-13		Ave Rent Oct-13		Annual change %		Yield %		Arrears >30 days3	Arrears  % change on 2012Greater London		£1,160				£1,144			6.0%		6.2%		7.5%			-1.5%Central London		£2,501				£2,525			9.7%		4.8%		7.3%			-0.1%East of England		£846				£844			4.7%		6.2%		6.9%			-0.0%South East		£1,069				£1,071			4.1%		5.9%		5.0%			-1.1%South West		£744				£764			-0.1%		5.7%		4.8%			-0.8%Midlands		£648				£651			1.4%		6.5%		6.4%			-0.8%North			£618				£620			2.1%		6.4%		7.0%			-1.0%Scotland		£631				£630			8.8%		5.8%		8.5%			3.5%Wales			£646				£635			3.7%		6.6%		6.1%			-0.5%Total			£862				£863			4.2%		6.1%		6.5%			-0.4%

Greater London arrears are looking a bit scary at 7.5%, but then I guess landlords are buying to speculate on capital gains rather thna yield.

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Based on the beeb quoted average of £475940 for London (which probably includes prime, somewhat weakening my point I suppose), a yield of 6.2 would require a monthly rent of about £2460.

The place I'm renting has a gross yield, if it was bought now, of less than 3%. That's less than a Santander 123 account. Zopa etc. Maybe the 6.2 % is based in assumptions about when it was bought?

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The place I'm renting has a gross yield, if it was bought now, of less than 3%. That's less than a Santander 123 account. Zopa etc. Maybe the 6.2 % is based in assumptions about when it was bought?

From a source I checked a few weeks ago. More from them here; http://www.johndwood.co.uk/content/indices/london-rental-yields/

k0it.jpg

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Based on the beeb quoted average of £475940 for London (which probably includes prime, somewhat weakening my point I suppose), a yield of 6.2 would require a monthly rent of about £2460.

The place I'm renting has a gross yield, if it was bought now, of less than 3%. That's less than a Santander 123 account. Zopa etc. Maybe the 6.2 % is based in assumptions about when it was bought?

I just signed a lease on a house in Wandsworth. The house sold a couple of months ago, and the gross yield is 2.5%.

Anything for rent at £2500 a month is not going to be for sale at £475k. £950k would be more like it. Gross yields of 6.2% in London right now are pure fantasy.

Edited by richc

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