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October, 2011
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One Third of the Average Household Income Needed to Pay Cardiff Rent
Webletz a Cardiff Letting Agent, Cardiff Property Management Company and provider of information to Cardiff Landlords and Cardiff Property investors has been looking into how much of a the average Cardiff household income is absorbed by the cost of the average monthly rental in the Welsh Capital.
In today’s rental market we are seeing rental prices increase month on month, so how much longer can this trend continue before the price to rent an average Cardiff property is no longer sustainable by the average Cardiff household income?
WebLetz a Cardiff Letting Agent research suggests there are 3,273 Cardiff Properties to rent and 1,083 of those listed in the last 14 days, with the average Cardiff rent equating to £908 per calendar month. Cardiff rents can be broken down as follows:
·         1 bed property £505 pcm
·         2 bed property £651 pcm
·         3 bed property £789 pcm
·         4 bed property £1008 pcm
·         5 bed property £1303 pcm
The number of Cardiff property to rent by price is:
·         <£250 pcm 62 properties
·         £250-£500 pcm 507 properties
·          £500-£1000 pcm 1.756 properties
·         £1000-£2000 pcm 832 properties
·          £2000-£5000 pcm 109 properties
·         £5000+ pcm 7 properties
Cardiff Council estimates the average Cardiff household income to be £31,829 per annum (Cardiff Household Income data supplied by Cardiff Council)  suggesting that 34 per cent of the average Cardiff household earnings is needed to pay the average rent in the Welsh capital.
WebLetz a Cardiff Letting Agent provides a host of letting agent solutions for landlords in Cardiff and across South Wales including:
·         £120 Professional Tenant Finders service
·         5% Property Management fee
·         Rent Guarantee and Rental Income Insurance
·         HMO tenant finders and property management services
Webletz a Cardiff Letting Agent can be contacted via email or by telephone 0845 496 0000.
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