What is the Average Rent in the North West?

Latest report by Rightmove shows that asking rents have hit record highs, as the national average asking rent outside of London hits £1,231 per calendar month (pcm) which is over £300 higher than before the pandemic in 2019. The average asking rent in the North West is £1,063, which is 11.6% higher than the previous year. While the annual pace of rent growth has slightly slowed, it remains significant at nearly double-digits.

Despite rents hitting record highs, properties remain being let at an impressive speed, with the current time to find a tenant being the quickest it has been since last November. Currently, the average time it takes to find a tenant is within 17 days. Tenant demand has increased by 3% compared to the previous year, and with some relief to prospective tenants, available rental properties are up by 7%. 


A recent study by Rightmove reveals that: 

  • The top 3 concerns of landlords are ‘government sentiment towards the industry’ (47%), ‘rising taxation' (41%)’ and ‘increasing compliance requirements’ (33%). 
  • 25% are also concerned about the increasing costs of buy-to-let mortgages. 
  • Another area of concern for landlords is those with properties with a lower EPC rating due to the government’s proposed EPC requirement changes.
  • 57% of landlords revealed that, on average, tenants opt to stay in their rental properties for longer than 24 months. 
  • It is valuable for landlords to have a good tenant that they can keep in their properties for longer.


Are you a landlord with properties in Manchester looking to maximise the returns on your investment? Speak to one of our property management experts today. 



Rightmove Rental Trents Tracker Q2 Report (April - June 2023)