Exciting News For Thanet Landlords And Tenants!
23/06/2024 537
Good News for Thanet Landlords and Tenants | Cooke & Co

Good News for Thanet Landlords and Tenants

Thanet Rent Increase

The latest data on rent growth since January 2020 highlights significant increases across the UK, providing a promising outlook for landlords, especially those in Thanet.

This growth in average rents is most pronounced in the South West, which has seen a remarkable rise of 45.2%. Close behind is the East Midlands with a 39.5% increase, and Yorkshire and the Humber with a 38.5% rise. The North East also shows substantial growth of 37.3%, while Scotland’s rents have grown by 35.0%.

In Northern Ireland, there has been a 34.6% increase, whereas East Anglia’s rents have gone up by 28.9%. The North West and West Midlands have experienced rises of 28.4% and 29.2% respectively. London and the South East, despite being high-cost areas, have relatively moderate increases of 25.6% and 25.5%. Wales has seen the smallest growth in this period, at 22.1%.

For landlords in Thanet, this trend indicates a robust investment climate in the rental market. However, it’s important to note that these figures reflect the rents paid by new tenants. Existing tenancies have not seen such dramatic rises, as government data shows much lower increases for ongoing existing leases.

This means that while landlords can capitalise on the current market conditions, it is crucial to consider the broader tenant base to maintain good relationships and avoid unnecessary friction. Ensuring fair rent practices helps sustain a positive rental environment and long-term tenancy agreements, benefiting both landlords and tenants.

From all of us here at Cooke & Co Estate and Letting Agents, thanks for reading. We’re here to help – contact us today at info@cookeandco.com.

Rent Increase

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About Cooke & Co

Cooke & Co, a liked and respected estate agency trading since 1992, is conveniently situated in the picturesque seaside district of Thanet. We proudly operate from our local offices in the region's primary towns, namely Margate, Broadstairs, and Ramsgate. Additionally, our extensive reach encompasses the charming areas of Westbrook, Westgate, Birchington, Monkton, Manston, and Minster. Our presence in these diverse locales enables us to offer an enriched understanding and comprehensive service to the property market in these prime coastal towns and villages.

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Visit our main website at www.cookeandco.com or contact us via email at enquiry@cookeandco.com. If you would like a free instant valuation of your home, then visit our free instant valuation site.

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