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Rents rise 23% in ​the pandemic in the South West but drop in London

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Rents have risen by more than 20 per cent in some parts of the country during the past two years, new figures have suggested, but dropped in London

The increase in rental values is the most pronounced in the South West, up 23.5 per cent since January 2020. It is the equivalent of a rise of £195 per month, according to the figures from Hamptons.

In contrast, typical rents in Inner London have fallen 11.6 per cent and on average it costs £305 less to rent there than in January 2020.

Rents have risen by more than 20 per cent in some parts of the country during the past two years

Rents have risen by more than 20 per cent in some parts of the country during the past two years

Rents in London's 13 inner boroughs have risen 3.9 per cent compared to the same month a year ago

Rents in London’s 13 inner boroughs have risen 3.9 per cent compared to the same month a year ago

The estate agents compiled the figures using a database of 90,000 rental properties and based them on achieved rather than advertised rents.

All regions across the country have seen a rise in rents, except from Inner London, where values are still below the levels seen before the start of the pandemic.

However, they have begun to pick up there, rising for the first time since January 2020 on an annual basis.

It means rents in London’s 13 inner boroughs have risen 3.9 per cent compared to the same month a year ago.

They now stand at an average of £2,329 a month, up from -0.1 per cent in October.

Rental growth by region since the pandemic began (Jan 2020 verses Nov 2021)

Rental growth by region since the pandemic began (Jan 2020 verses Nov 2021)

Hamptons attributed the increases to workers returning to the office and global travel reopening.

The figures are published as new Covid restrictions come into play amid fears about the growth in Omicron cases.

Hamptons said that inner London’s rental market was boosted by a 14 per cent annual rise in the number of applicants looking to rent.

However, there were 71 per cent fewer homes to rent than in November 2020. The agent said that last year, the rental market was flooded with short-let properties that had been brought onto the long-term rental market at the start of the pandemic.

November also marked the first time in 20 months that the rate of Inner London rental growth caught up with Outer London where rents have been rising for the last 15 months.

A change in working patterns since the pandemic began has driven tenants to seek more space, boosting rents in the suburbs, while suppressing demand for inner-city living.

A slow start to inner London’s recovery has meant that rents outside the capital have risen three times faster than those in London since the pandemic began.

Across Greater London, rents have risen 5.9 per cent since January but outside London rents have increased 16.1 per cent.

The average rent in Britain is up 7.9 per cent in the past year, according to Hamptons

The average rent in Britain is up 7.9 per cent in the past year, according to Hamptons

A change in working patterns since the pandemic began has driven tenants to seek more space

A change in working patterns since the pandemic began has driven tenants to seek more space

Having recorded eight consecutive months of double-digit growth, the South West continues to see the highest rate of rental growth with rents rising 14.6 per cent during the last year.

In the region, there were 42 per cent more applicants looking to rent and 21 per cent fewer homes available in November than at the same time last year.

Aneisha Beveridge, of Hamptons, said: ‘Across Great Britain, rents have risen 7.9 per cent over the last year, marking the strongest rental growth recorded in any November since our records began in 2013.

‘A lack of stock and a continuation in tenants’ willingness to pay for more space has fuelled growth. In particular, this has benefitted Southern regions – outside of London – which have seen the biggest rent rises since the pandemic began.

‘While there are few signs to suggest that stock levels will rise next year, we expect the rapid pace of rental growth to slow as affordability barriers set in and household budgets come under further pressure.’

She added that the pandemic has divided London into a city of two-halves.

‘Rents in Inner London have been hardest hit as the rise of flexible working has seen fewer new tenants move into the capital, while some tenants have moved to leafier neighbourhoods in search of more space,’ she said. ‘But the resumption of office life and opening of global travel marked a turning point for the rental market in November.

‘While there’s still a way to go, rents in Inner London are on track to reach pre-pandemic levels by the middle of 2022. This means, in a reversal of this year, we’re likely to see Inner London rents outperform Outer London in 2022.’

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Radisson launches new resort in Greece

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Radisson Hotel Group has launched its latest Greek resort in Skiathos. Skiathos, the westernmost of the Sporades islands, is known for its stunning coastline of more than 60 beaches with soft sand and clear blue waters, as well as sea caves, impressive rock formations, and hiking trails on the tree-covered hills along the north shore made famous as the location for the filming of Mamma Mia. The island’s Byzantine churches and monasteries, Venetian-style Bourtzi fortress, and Papadiamantis House with its typical architecture are important parts of the island’s rich history.

 

The resort’s 84 rooms and suites are decorated in a modern, minimalist style, and most of them offer views of the hotel pool or the sea. Private balconies or terraces are available in select rooms, and the resort’s biggest suites feature private whirlpools for ultimate privacy and relaxation. The resort is ideally suited for weddings with its own on-site orthodox chapel and versatile outdoor pool area that offers receptions with stunning views. The main all-day dining restaurant celebrates Greek and Mediterranean flavors on its lunch and dinner menus. The poolside bar offers breakfast treats and late-night snacks as well as a wide selection of drinks and an extensive wine list. For guests looking to keep up their fitness routine, a well-equipped gym is available.

 

“We are excited to offer our guests a fantastic resort experience on the beautiful island of Skiathos, as we continue to expand our Greek resort portfolio. Radisson Resort Plaza Skiathos allows guests to switch off and relax surrounded by stunning natural beauty,” said Yilmaz Yildirimlar, Area Senior Vice President at Radisson Hotel Group.

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Six houseboats for sale starting from £30,000

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Houseboats are often perceived as a cheaper alternative to owning a property on land.

But they come with their own challenges and plenty of hands-on maintenance. And of course, there is the regular job of emptying your toilet.

You’ll either have to continuously cruise or pay for a residential mooring if you live on the boat full-time.

We take a look inside six different type of houseboats that are currently for sale and ask which one would you buy - ranging from one costing just shy of £30,000 (pictured - scroll down for more details) to one that costs £2.5m

We take a look inside six different type of houseboats that are currently for sale and ask which one would you buy – ranging from one costing just shy of £30,000 (pictured – scroll down for more details) to one that costs £2.5m

Houseboats come in various shapes and sizes, including narrowboats – typically 6ft 10 in wide and up to 72 long – and Dutch barges, which are former commercial vessels that can be up to 120ft in length and 20ft wide.

They also come with various price tags and so can accommodate all types of different budgets.

Below, we take a look at six various types, ranging in price from just shy of £30,000 and a more eye-watering £2.5milion.

Daniel Copley, of Zoopla, said: ‘Investing in a home on the water may not float everyone’s boat but for those who do take the plunge, it offers both affordability and freedom to up anchor and move to different areas.

‘With luxurious amenities and spacious living areas, houseboats are a popular choice particularly in and around London.’

1. One-bed houseboat, Glasgow, £29,500

This boat is currently moored at Applecross Wharf, in Glasgow, and was converted by the current owners from a former lifeboat escape pod

This boat is currently moored at Applecross Wharf, in Glasgow, and was converted by the current owners from a former lifeboat escape pod

The houseboat is now a home with a brightly-coloured kitchen, and is currently for sale for £29,500 via Home West estate agents

The houseboat is now a home with a brightly-coloured kitchen, and is currently for sale for £29,500 via Home West estate agents

There is one bedroom on the houseboat that is separate from the main living area and it includes some storage space

There is one bedroom on the houseboat that is separate from the main living area and it includes some storage space

This boat is currently moored at Applecross Wharf, in Glasgow, and was converted by the current owners from a former lifeboat escape pod.

It has a brightly coloured kitchen with wood flooring, and one bedroom. It is being sold for £29,500 via Home West estate agents.

2. One-bed houseboat, Brentford, £100,000

This one-bedroom houseboat is currently moored in Brentford, West London, and includes a comfortable living area

This one-bedroom houseboat is currently moored in Brentford, West London, and includes a comfortable living area 

The houseboat is on the market with a price tag of £100,000 and the sale is being handled by Strike estate agents

The houseboat is on the market with a price tag of £100,000 and the sale is being handled by Strike estate agents

The boat is a Dutch barge that has been completely renovated, and includes solar panels as well as a woodburner

The boat is a Dutch barge that has been completely renovated, and includes solar panels as well as a woodburner

This one-bedroom houseboat is currently moored in Brentford, West London, and the £100,000 price tag includes both the purchase of the boat and the rental mooring.

The mooring is in a quiet location and is within walking distance to Brentford high street.

The boat is a Dutch barge that has been completely renovated, and includes solar panels and hot water supplied by an immersion heater. It is being sold by Strike estate agents.

3. Three-bed houseboat, London, £408,000

This stunning Thames barge was built in 1929 and is moored at St Katherines Dock in central London on a leisure mooring where it has been for the past 23 years

This stunning Thames barge was built in 1929 and is moored at St Katherines Dock in central London on a leisure mooring where it has been for the past 23 years

The interior has been converted to include a large living area that has an extensive library and a TV area

 The interior has been converted to include a large living area that has an extensive library and a TV area

The houseboat spreads across 1350 sq ft of space and features three attractive bedrooms - including one with an en suite

The houseboat spreads across 1350 sq ft of space and features three attractive bedrooms – including one with an en suite

The well-presented houseboat has a price tag of £408,000 and it is currently on the market via the Unique Property Company

The well-presented houseboat has a price tag of £408,000 and it is currently on the market via the Unique Property Company

There is a large separate bathroom with a roll top bath and wood on the walls and ceiling, as well as on the floor

There is a large separate bathroom with a roll top bath and wood on the walls and ceiling, as well as on the floor

This stunning Thames barge was built in 1929 and has been converted into a three-bedroom home with central heating and a wood-burning stove.

It is moored at St Katherines Dock in central London on a leisure mooring where it has been for the past 23 years. The mooring costs £12,870 a year.

The boat has a price tag of £408,000 and it is being sold via the Unique Property Company.

4. Two-bed houseboat, West Sussex, £175,000

This marina boat is currently moored in Chichester Habour, which is just four miles from Chichester city centre

This marina boat is currently moored in Chichester Habour, which is just four miles from Chichester city centre

The property has a modern living area and is currently on the market for sale for £175,000 via H2O Homes estate agents

 The property has a modern living area and is currently on the market for sale for £175,000 via H2O Homes estate agents

The smart property boasts two bedrooms with modern coloured lighting, including this one that also features a TV on the wall

The smart property boasts two bedrooms with modern coloured lighting, including this one that also features a TV on the wall

There is a kitchen with white cabinets, a modern worktop and wood effect flooring to complete the monochrome look

There is a kitchen with white cabinets, a modern worktop and wood effect flooring to complete the monochrome look

This marina boat is currently in Chichester Habour and is for sale for £175,000 via H2O Homes.

It boasts two bedrooms and a bespoke awning allowing use of the deck come rain or shine.

5. Five-bed houseboat, London, £2.5m

This houseboat is currently moored at the prestigious St Katharine Docks, which is London's premier luxury yacht marina

This houseboat is currently moored at the prestigious St Katharine Docks, which is London’s premier luxury yacht marina

This 1930s steel boat for sale has an eye-watering price tag of £2.5million and is being sold by RiverHomes

This 1930s steel boat for sale has an eye-watering price tag of £2.5million and is being sold by RiverHomes

It has been converted into a luxury home with a central atrium stairway to a lower deck, which has five bedrooms as well as access to a jet ski platform

It has been converted into a luxury home with a central atrium stairway to a lower deck, which has five bedrooms as well as access to a jet ski platform

The large living area includes a kitchen with a breakfast bar, as well as a separate dining area with plenty of space to entertain

The large living area includes a kitchen with a breakfast bar, as well as a separate dining area with plenty of space to entertain

One of the more unusual features of the houseboat is a sauna (pictured), which adds a luxurious touch to the property

One of the more unusual features of the houseboat is a sauna (pictured), which adds a luxurious touch to the property

This 1930s steel boat for sale has an eye-watering price tag of £2.5million and is being sold by RiverHomes.

It has been converted into a luxury home with a central atrium stairway to a lower deck, which has five bedrooms as well as access to a jet ski platform.

6. Three-bed houseboat, Hampton, £500,000

This three-bedroom floating home is in Hampton, in the London borough of Richmond upon Thames

This three-bedroom floating home is in Hampton, in the London borough of Richmond upon Thames

It is on a desirable private island located in the middle of the River Thames and is for sale for £500,000 via Water Side Residential estate agents.

It is on a desirable private island located in the middle of the River Thames and is for sale for £500,000 via Water Side Residential estate agents.

The kitchen is well equipped and includes colour coordinated tiles on the walls and a white porcelain sink

The kitchen is well equipped and includes colour coordinated tiles on the walls and a white porcelain sink

This spacious bedroom includes plenty of storage on one wall as well as a good-sized window with a view of the River Thames

This spacious bedroom includes plenty of storage on one wall as well as a good-sized window with a view of the River Thames

This three-bedroom floating home is in Hampton, in the London borough of Richmond upon Thames.

It is on a desirable private island located in the middle of the River Thames and is for sale for £500,000 via Water Side Residential estate agents.

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Abrdn acquires Waddinxveen warehouse scheme (NL)

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abrdn European Logistics Income has signed the purchase agreement for the acquisition of the recently completed warehouse extension at Waddinxveen, the Netherlands, for a total net purchase price of €4.9m. The company exercised its right of refusal over this development located directly adjacent to the existing warehouse bought in 2018. This land, owned by and developed with our tenant Combilo, has provided an additional circa 2,400m² of cooled warehouse space and 157m² of office space. The extension will allow Combilo to service its growing client base, including a Swedish supermarket chain. The lease runs concurrent with the original, with over 11 years remaining, and will generate additional rent of €250,000 per annum, reflecting a yield of 5%. The extension complies with the latest energy neutrality standards in the Netherlands and includes 16 rooftop solar panels, resulting in an A+++ energy rating.

 

In addition, the company has agreed a new 5 year lease with ADER at Unit 3, part of Phase II at its Gavilanes site, Madrid. ADER provides distribution services to companies in the freight and logistics sector and is consolidating its operations in the Gavilanes area with the leasing of this second, 7,375m² building. The annual contracted rent of almost €470,000 per annum is fully CPI indexed and in line with expectations.

 

Evert Castelein, Fund Manager for ASLI, commented: “Supporting our tenants as they expand is a key part of our strategy. This is another example of how flexibility and the option to extend buildings within our portfolio can create additional value over the medium term. The new lease with ADER not only improves the portfolio’s income characteristics, but also underscores the desirability of the Gavilanes assets, which offer access to c. six million people across the wider Madrid area.”

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