House rentals: West Midlands growth passed the national average

For the first time since 2008, the growth of private house rental prices in the West Midlands passed the national average. In 2017, the rental prices in the West Midlands rose by 1.8 percent while the national index showed only 1.3 percent rise.

Based on data published by the Office for National Statistics on Tuesday, between 2008 and 2016 the national index has always been above the West Midlands.

December last year, besides in the North West, the growth of rent price around England were slowing down. In the West Midlands, it was slowing from 2.2 percent to 1.8 percent. London is among the slowest, from 2.4 percent in 2016 to only 0.4 percent.

Not all of the landlords increased their rent prices last year. Noor Daraz, a landlord who has 15 properties around Birmingham said that the last time he increased the rent was in 2016. “I never follow the inflation or any index, I just see the rent prices near to my property, and adjust it with facilities that I have,” he said.

In West Midlands, each type of property has different growth of rent prices. Terrace houses had the highest growth among the other types.

Even though it was higher than the national average, West Midlands was not a region with the most aggressive growth. East Midlands, East of England, South West, and South East were above West Midlands in terms of the growth of private house rent prices.

Leave a Reply

Your email address will not be published. Required fields are marked *