Here at MovingSoon we have been looking at how the prices of the properties on our platform, compare to the national average. Rental properties advertised on MovingSoon are over 50% cheaper on average.
We have taken the average property price for our Top 10 counties and compared this to the average property price in general in these areas, using data from home.co.uk. This report shows how MovingSoon listings compare to national listings.
|Location||MovingSoon Price||Average National Price*||Percentage Difference|
|West Midlands||£ 428.00||£ 993.00||57%|
|Greater London||£ 700.00||£ 1,200.00||42%|
|Merseyside||£ 520.70||£ 799.00||35%|
|Greater Manchester||£ 386.80||£ 1,095.00||65%|
|Tyne and Wear||£ 361.60||£ 834.00||57%|
|Warwickshire||£ 482.50||£ 1,144.00||58%|
|West Yorkshire||£ 392.60||£ 1,064.00||63%|
|County Durham||£ 317.20||£ 851.00||63%|
|Lancashire||£ 407.30||£ 688.00||41%|
|Hampshire||£ 475.70||£ 1,210.00||61%|
|Average Top 10||£ 447.24||£ 987.80||54%|
It is worth pointing out that whilst the majority of rental properties advertised currently are 1 and 2 beds, there is still a significant saving based on the properties on offer. We’ll start at looking at our most searched location of West Midlands.
Our research has found that the average rental price in West Midlands is £993. If we compare this to the MovingSoon average we see our average rental price being is 43% of the average, with it being £443. This is a massive difference in price and helps to reinforce our message that we are trying to help people find affordable homes.
It is not new information that housing is on the whole, very unaffordable in the London area. We were very interested to see how the average rental price compared to the ones listed on our site. The average price for a rental property in Greater London is £1200 whereas on MovingSoon the average price is £700. This means that MovingSoon properties are 58% of the price of the London average.
Our third most searched location is Merseyside. The average rental price in Merseyside is £799, whereas on MovingSoon it is £520.7. This means MovingSoon’s rent is only 65% of the average price for Merseyside, making it much more affordable.
Greater Manchester is the region on MovingSoon with the most difference between the prices on our site, and the national average.The average national price for a property in Greater Manchester is £1095pm. The average price for a property in Greater Manchester on MovingSoon is £386.80, 35% of the national average. This helps to highlight the cost of renting from affordable housing providers rather than the private rented sector.
Tyne and Wear
If we are looking at the affordability of properties in Tyne and Wear, we can compare the national average to the price on MovingSoon. Tyne and Wears average is £834 which is steep in comparison to the average on MovingSoon. Our properties advertised in Tyne and Wear on average are £361.6. This means that the properties to rent in tyne and wear are 43% of the national average on our website.
6th on our most searched for areas is Warwickshire. The national average for properties in Warwickshire is £1144. Our properties listed in Warwickshire are 42% of this price, with the average being £482.50. This is over half the price of Warwickshire’s average, highlighting the importance of affordable housing.
The national average rent for homes in West Yorkshire is £1064pm. The average price of rent on MovingSoon in West Yorkshire is £392.60, 37% of the national average. This means MovingSoon has affordable homes to rent in West Yorkshire.
We have properties available in County Durham with the average rental price of £317.20. When you compare this with the average rental price in County Durham in general of £851. This means MovingSoon’s average is 37% of the national average.
Our research has found that the average rental price in Lancashire is £688. If we compare this to the MovingSoon average we see our average rental price is 59% of the average, with it being £407.3.
In Hampshire Our average rental property is priced at £475.7, which is 39% of the average price for the region of £1210.
MovingSoon is over 50% cheaper
To conclude on the results from the data, it is clear that rental listings on MovingSoon are cheaper than the national average for rental properties.
On average, properties listed on MovingSoon are over 50% cheaper than those listed elsewhere. The data shows that the average national price for rent is £987.80 in comparison with MovingSoon’ average of £447.24.