Midlands rents rise as build-to-rent fuels supply boost

Average rents across the Midlands are now approaching the £1,000-per-month mark, according to new research from estate and lettings agency John Shepherd.

The latest figures show average rents across the region have reached £990 per calendar month, with affordability continuing to attract tenants relocating from more expensive parts of the country and supporting steady demand across the region.

The report also points to a significant increase in rental supply, with the number of available properties rising by 34 per cent year-on-year. Major cities including Birmingham, Derby and Nottingham are leading the growth, supported by a wave of Build-to-Rent developments that are helping to expand housing choice and improve availability for renters.

The findings reinforce the growing appeal of the region’s urban centres, where improving housing supply, employment opportunities and comparatively affordable living costs are helping to drive population growth and investor interest.

Katie Ridley, sales director at John Shepherd, said the Midlands property market has seen a strong start to the year.

“We’re seeing increased lettings interest and tenant demand across regional hotspots such as Birmingham, as well as sustained buyer interest when it comes to purchasing properties,” she said.

The report also highlights growing momentum in the sales market, particularly through property auctions. The modern method of auction is becoming increasingly established among buyers, with agreed sales rising by 40 per cent this quarter compared with the previous period.

The increase suggests a positive start to the year for the Midlands property market, with investors and owner-occupiers continuing to seek opportunities across the region’s residential sector.

The full Quarterly Insights report is available to read online here.