The latest quarterly Q2 report on rental trends in the UK from Belvoir shows significant regional variations. In the three month period from April to June rents in London have risen by 5.88% in comparison with same period in 2009. In sharp contrast, average rentals achieved by Belvoir’s landlords in the West Midlands were 6.4% less than one year earlier. The latest Q2 data follows the Q1 report which previously had indicated a more subdued trend in most regions. The data was collated from a survey of some 140 offices across the UK.

Mike Goddard, CEO of Belvoir, said: “Our latest regional statistics show that there is quite a dramatic regional variation in rental growth between a high growth rate area like London where rents have gone up by 5.88%. This is in comparison to the trend seen in the West Midlands where rents achieved have gone down by 6.4% with those some 12 months earlier. However, a number of other regions have seen positive rental growth, including the North East, which has seen a growth of 4% and the South East and Scotland, which have shown also significant positive rental growth.

“Apart from London and the West Midlands, the difference between other regions has not been nearly as dramatic, although Yorkshire, and the North West have dropped by just over 3% the South West, East Midlands and East Anglia have dropped by just over 1%.

“On balance I think these statistics suggest that there has not been a dramatic change in the 12 month period, although there are regional variations. This data shows the resilience of the UK rental market in an extreme recessionary period and confirms the fact that the private rental sector is an increasingly popular alternative to owner occupation.”