In December 2022, the UK average rent was £1,118 which is 11.5% or £120 higher than it was in December 2021. The two UK cities that showed the largest increase in average rent were London and Manchester.
Earlier this month, The Bank of England (BoE) decided to further slash interest rates by 0.25%. The rates are now at 4.5% from 4.75% – their lowest point since June 2023.
What’s ahead for the 2025 rental market in Northern England? Rising rental prices and energy regulations, learn how savvy investors are adapting to new challenges and opportunities.
Rental prices in Manchester have soared by 23.4% in the last year, while the average advertised rent for the rest of the UK outside of London rose by 11.8%.
Manchester announced as a tech hub as Amazon chooses Manchester City-Centre for its Regional Office as the city has the largest tech cluster outside London.
The Bank of England (BoE) has once again sliced the interest rate by 0.25%, in response to global trade tensions, particularly from US tariff policies under President Trump. This move aims to support UK growth and ease mortgage costs for millions of homeowners.
Manchester rents continue to soar as a result of insufficient inhabitable space. Demand and low stock have pushed Manchester 2022 rent prices to their highest level in 16 years.
A major new development has opened in Manchester, which shows real faith in buy-to-let property in Manchester following the coronavirus pandemic. Read more.
As prices of properties in the UK begin to settle, the nerves and worries from potential investors have started to lessen. The rental market is thriving as more people are starting to see the benefits of renting, especially professionals.