Where can I find out rental prices for past 12 months?

gingertips

Hi there,

About to come to end of 12 month rental agreement, but before I start to negotiate with the agent I want to be fully informed and prepared about the state of the rental market.

Is there a good site that can show me what average property prices were 12 months ago compared to what they are today (or as close to)

Last year the landlord requested a 15% increase which was a joke - in the end we agreed on a 5% increase & Im sure the same will happen this year.

GAH

Depending on where you are in the country, rents have gone up.

There isn't any sites really out there that compare rents, like there are sold prices.

Even if you can find some information on average rents, they probably won't give a true refelction anyway.

Best thing to do is search similar properties that are on market.

Were you paying a low rent to start with, because 5% increase per year is high

gingertips

i live in sussex & last year I was unprepared for the conversation - I am trying to make sure this time I am ready! However, I felt comfortable that 5% was acceptable because at the time there was very little available on the market.

At the moment, there appears to be little available in my area of west sussex. My understanding is that the DSS rental payment reductions havent yet started to happen & will be significant time before they take effect, so likely that prices continue to creep up in my area.

I have a couple of comparable properties that I will discuss with agent. My girlfriends flat is due to be vacant in 2 months, so worst case, if we cannot agree on an extension where we are, then we can always move back to her flat. Not ideal as it means additional hour commuting daily for both of us, but at least we have a contingency if needed.

Just wondered if there was other data I could use to support my case.

SouthCoast

Historical LHA rates can be found here:

http://www.direct.gov.uk/en/Diol1/DoItOnline/DG_196239

gingertips

Thanks - but Im looking for private rent costs - LHA isconsiderably less in my area!!! About 25% less...just goes to show what a complete mess the whole affordable housing has become that I will never be considered for LHA property and those who are will be allowed to buy their property for a significant discount in the future. But I am allowed to pay a private landlords mortgage off for him & pay 25% more for the privelege!

Theres another link off the beeb today that I will try and look up which might help (talks about a 4.8% or thereabouts increase for the year)

flecker

gingertips wrote: »

Theres another link off the beeb today that I will try and look up which might help (talks about a 4.8% or thereabouts increase for the year)

Here's that link to the Beeb: http://www.bbc.co.uk/news/business-13457418

It says that nationally, rents are 4.4% higher today than they were a year ago (ie they're rising below the rate of inflation).

It also says that 11.8% of all UK rent was unpaid or paid late by the end of April so, if you're paying up on time, you have pretty strong bargaining power, IMO.