Market research and house prices

Homelets Rental Index has revealed that average rents in the UK finished 2014 almost seven per cent higher than at the end of 2013. So how does this affect the value of your rental properties?

Average rents in Yorkshire and Humber rose from £578 in December 2013 to an average rent of £594 in December 2014. In London, the average rent rose from £1244 in December 2013 to £1393 in December 2014.

I have identified two identical properties in similar urban locations, one on the market with Ultra Lets (in Hull) and one on the market with Dimension Estates (in London). The house in London is on the market for £1300 per calendar month whereas the house in Hull is on the market for £375 per calendar month.

The average price for a terraced property in the E7 area for February 2015 is £350,000 in comparison to the £70,000 in the HU3 area.