Rents rise as the South West of England increases in popularity
With stunning coastlines and countryside, quality of life and cost of living lower than major cities around the UK, the South West appears to be a destination increasing in popularity for many tenants.
Data collected by Your Move in it’s latest England and Wales Rental Tracker, suggests that the South West of England was home to the fastest rising rents in the year to June. On a monthly basis it has seen rents rise faster than any other region in England and Wales.
Prices in this region, which includes beautiful rural areas of Cornwall and Devon, plus the major city of Bristol, have risen by 3.4% in the last year.
Plymouth, in particular, seems to be increasing in popularity with more and more tenants looking to live in the area.
Martyn Alderton, National Lettings Director at Your Move, said:
“Plymouth is a particular hotspot. As well as stunning countryside and lower cost of living, current multi-million pound developments are creating employment opportunities. Coupled with the expansion of the dockyard and hospital, strong economic growth is encouraging many tenants to live here.”
It is not just Plymouth seeing their popularity rise in the South West as Martyn Alderton adds:
“Bristol too – with rents rising by 3.4% this year – is also proving popular with ongoing development of the City and strong employment opportunities available as a result of Airbus, Rolls Royce, GKN and the MOD – which have a huge presence already in the City.”
To access more findings, take a look at the latest England and Wales Rental Tracker.
Find properties to rent in the South West of England by using our property to rent search.