Landlords are encountering local rent disparities of more than 100% between the most and least expensive areas in seven regions across Britain. This finding comes from research by letting agents Benham and Reeves, which compared average monthly rents within each region.
Scotland recorded the largest percentage difference in rents. For instance, average monthly rents in Lothian were £1,415, significantly higher than £554 in Dumfries and Galloway, representing a 155.4% difference. The South West followed, with Bath and North East Somerset averaging £1,881 compared to Torridge's £788, a 138.7% difference.
In cash terms, London had the biggest gap, amounting to £25,140 annually. Kensington and Chelsea had an average monthly rent of £3,629, while Bexley's average was £1,534, creating a £2,095 monthly difference within the capital. The East of England, North West, North East, and South East also showed rent gaps exceeding 100%.
Marc von Grundherr, a director at Benham and Reeves, highlighted the importance for landlords of understanding these local market dynamics. He noted that the highest headline rent does not always indicate the strongest investment opportunity, emphasising the relationship between property price, achievable rent, and tenant demand.