Graph Of The Week

This week’s linear lovely comes from the Royal Institution of Chartered Surveyors’ latest lettings market survey.

What’s it telling us? Basically that the decline in rents is slowing.  Or in their own words:

“A slowdown in the number of properties coming on to the rental market saw the rate at which rents decreased ease slightly in the three months to July.”

Now I know what you’re going to say: the three months to July… that was ages ago! Where can I find out what’s happening now?

Fair point. Happily you can find out here, on this very site - our monthly Rental Index gives a more up-to-date snapshot of current prices and market trends.

August’s edition shows that the trend RICS identify has consolidated. Specifically:

• After two months of rises, rents are up a further £4 to £829 pcm (+0.5 per cent), the highest for six months, providing further evidence of the recovery in the rental market.

• Rental stock is two per cent lower than in July, and has fallen 3.7 per cent over the past quarter since its peak in May. However, it remains much higher than at any time last year (+48.5 per cent on August 2008).

Here’s the full Rental Index (and yes, that chap with the shiny head - on page 4 - is me…)

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