Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
Below-Average Rents Scarcer Outside London, Research Finds
Landlords in Leeds and Cardiff face a smaller proportion of competing properties advertised below the local average rent than those in London, according to research reported by Property118. The findings come from letting agency Benham and Reeves, which analysed rental listings across 15 British cities.
Cardiff sits at the bottom of the 15 cities analysed. According to the research, 29.9% of listings in the Welsh capital were advertised below its monthly average rent of £1,179. Leeds ranks second from bottom in the same analysis.
The research indicates that below-average rental listings are harder to find outside London, with the capital retaining a comparatively larger share of properties marketed beneath the local average. For letting agents and inventory clerks, competitively priced stock is thinner in cities such as Cardiff and Leeds than in London.
Property118 reports the findings under the headline "Below-average rents scarcer outside London". The full article is available via the link below.
Source: Property118