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Rental prices continue to rise in Essex and Herts

August 10th 2017
By: Melanie
Rental prices continue to rise in Essex and Herts

Rental prices have continued to rise across the County’s of Essex and Hertfordshire. The largest increase was seen in Royston +7.7%, followed by Saffron Walden 4.2%, Stansted Mountfitchet 4.6%, Stansted Airport 2.9%, Braintree 1.2%, Great Dunmow 2.9%, Chelmsford 1%, Old Harlow 4.6% and Bishop’s Stortford 3.3% with rental prices falling slightly in Sawbridgeworth -2.3%†.

Contributing to this growth is people moving out of the capital in search of cheaper rental prices to reduce their living costs, whilst still remaining within a commutable distance from London.

Caroline Rutherford, Lettings Area Director commented “Long term predictions show that the rental market will continue to grow – recent analysis published by accountancy firm PWC suggests that by 2025, 7.2m households would be in rented accommodation, compared with 5.4m in 2015 and 2.3m in 2001.

One of the biggest issues across the property market in 2017 is going to be a lack of supply of rental properties. In a recent Rightmove Rental Trends Tracker two of our areas, Chelmsford and Braintree, were named as two of the top five most in demand areas outside Greater London. The other three areas being Oldham, Tamworth and Basildon. One of the contributory factors for the lack of available properties is that tenants are staying in a property for longer - based on figures from the 2nd quarter of this year, the average tenancy length at Intercounty was 27 months,” she added.

Here are some rental properties available in the market town of Saffron Walden and surrounding areas, which offer commuters just over an hours commute to London’s Liverpool Street Station:

2 bedroom House to rent, Saffron Walden, Essex, CB11 Herberts, Debden Road, Saffron Walden, CB11 £1,250pcm Deposit £1,875  + 10 days rent +vat (min. £360) set up fee. (other fees may apply).

Screen shot 2017 08 11 at 10.15.34

3 bedroom Cottage to rent, Great Dunmow, Essex, CM6 Newbiggen St, Thaxted, Great Dunmow, CM6 £1,100pcm Deposit £1,650  + 10 days rent +vat (min. £360) set up fee. (other fees may apply.

Screen shot 2017 08 11 at 10.16.34
 

2 bedroom Flat to rent, Saffron Walden, Essex, CB11 Weighbridge Court, Saffron Walden, CB11. £825pcm Deposit £1,238  + 10 days rent +vat (min. £360) set up fee. (other fees may apply)

Screen shot 2017 08 11 at 10.17.41

† = 1st Quarter Property Value Increase. Information collected on Rightmove from Q2 2017 compared to Q1 2017.