Bath has been named one of the - but property experts in the city say demand is as high as ever.
Specialist letting agents’ insurer Endsleigh this week rated Bath as the fifth priciest town or city for tenants in the UK.
- Bath view
According to the insurance firm the average cost of renting a property in the city is £963 a month - £257 more than the national average.
The report shows the average monthly rent across the UK rose for the third year running in 2011 to £706 – compared with £688 in 2010 and £663 in 2009.
Bath was placed fifth behind Slough, Guildford, Watford and London, where the monthly average was £1,247.63.
Grant Stevens, general manager of letting services at Endsleigh, said the results proved that despite tough economic times, the lettings market remained buoyant.
He said: “Rents in London have been rising for a long time so it is no great surprise that there is finally a cooling in prices. However, nationally, year-on-year, the picture is one of a very buoyant rental market and, with the overall rise in-keeping with inflation, it won’t unduly affect the pockets of either Bath’s landlords, who are enjoying good yields, or renters, who are able to access a whole range of properties.”
Ben Tilling, partner at Bath Property Shop, said there was strong supply and demand in Bath which had created a successful rental market for the city.
He said: “The city is a one of a kind in terms of rental.
“There are a lot of quality properties in Bath and they are the ones that always rent.
“There is real value for money for tenants in terms of quality, and tenants have got selective about what they want.
“Bath has a very strong rental market but it’s a vicious circle because people can’t afford to buy in Bath so they rent.
“We get a lot of families from London who relocate from London because of the very good schools.
“We also have good links with London and Bristol, and a lot of people commute to Bristol because Bath offers a better quality of life.”
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