Property Data Update: Sales vs. Rental

As part of the recently published TwentyCi National Homemover Audit for Q2 2017, Sale vs. Rental properties were analysed for properties in cities across the UK with the largest volume of properties overall. In this update, we look at additional analysis to take an even more in-depth look at the property marked across two of these UK cities.

Outside of London, the city of Manchester has the highest ratio of rental to sales properties currently available out of the 9 biggest UK cities, closely followed by Newcastle. Key stats include:

• 41% of the property market in Manchester is rental property, in Newcastle it’s 39%. The UK average today is around 23%
• In Manchester, rental property has been on the market for 113 days on average with an average asking price of £843pcm. Interestingly, both of these are under the national averages of 130 days and £1100 respectively. This may suggest that, while rental property is in relatively high demand (lower than average time on market), there seems to be a cost-of-living glass ceiling that rental asking prices are struggling to break through. Whilst the rental market in Manchester is reasonably buoyant, but buy-to-let investors may need look elsewhere for better yields
• In Newcastle, the average rental property has been on the market for 175 days and will cost around £650pcm, which are largely over and under the national averages respectively. In fact, Newcastle is 4^th in the list of least in-demand rental areas in England, and 6^th in the UK list

Here is the district breakdown of the Manchester rental market by postcode area. The size of each bubble represents the number of properties available in its respective postcode district:

From this data we can see that in Manchester, M14 has the largest number of properties available and is on average one of the more expensive postcode districts in the city. By contrast, the cheapest and one of the lower average time-on-market areas is Manchester district M38.  

To read more of our Property Data Update posts, click here. For more information about TwentyEA's property and homemover data provision and insight solutions, or any of our other services, please call 01908 829300 or email enquiries@twentyea.co.uk. 

You can also download our complete TwentyCi National Homemover Audit for Q2 2017.