The future of the Teddington rental market

It might surprise some of you to know that the average rent that tenants are paying for a rental property in Teddington are around 12% higher than the peak of Spring 2008! In late 2008 and early 2009, there was a major dip in the rents that were being achieved for Teddington property of around 10-11%. However, since 2010, rents have steadily risen by around 3-4% a year (depending on area) since the credit crunch and in 2013 rolling into 2014, a lack of decent stock available to rent means rental averages are, in the main, still rising.

Rents have steadily risen in 2013/2014, despite the squeeze on ‘real’ wages, due in part to the demand from tenants working in London who are happy to commute. There are still plenty of people willing to pay for well-maintained properties in great locations, such as Teddington and Hampton, and commute into central London in 37 minutes.

At the start of 2012, the average rent in Teddington was approximately £1,817 per month (a decent rise from the 2009 average of £1,608 per month). As we go into the summer of 2014, average rents in Teddington stand at £2,053 per month.

From a landlord perspective, the steady rise in rents is good news, as ideally rents need to keep up with inflation to maintain investment returns. Property prices in Teddington are also starting to rise (nearly 11% in the last 12 months) after large falls since the credit crunch of 2008, so maybe Teddington could be one of the few areas across the UK where it is possible to secure capital growth returns and potentially higher income (yields) in the future.

Rebecca Smith