Updated 2:39am 28 April 2012

West Midlands rental growth largest in England

The West Midlands booming rental market saw the biggest increase in houses to let across the UK last year.

Wales had the same 20 per cent rise in 2011 compared to 2010, according to information services company Experian.

The region also highlighted its dynamic property market credentials by bucking the downward trend in the number of resale properties compared to 2010, with 12 per cent more houses put on the market last year.

Experian analysis revealed the rental market in the UK is flourishing with an additional 58,000 properties being marketed to rent in 2011 compared to the same period in 2010 - an increase of 10 per cent.

By contrast the number of properties for sale dropped by around 12,000 in 2011.

Jonathan Westley, managing director of Consumer Information Services at Experian, said: “This insight shows that homeowners may be using renting as a back-up plan if they are unable to sell or alternatively some may still consider property a long-term investment.

“Being able to paint a picture of movers and get a unique insight into habits and trends is a valuable tool for companies from financial services to utilities and telcos.

“Moving house can be a catalyst for a consumer to switch to ensure they are getting the best deal from their suppliers.

“Knowing who these movers are enables organisations to keep in touch with them and maintain and develop relationships at a time when they are most receptive.”

The volume of properties put up for rent increased every quarter in 2011 when compared to 2010 with quarter three seeing the most significant increase of 14.46 per cent.

A number of seasonal trends were prevalent in both the rental and resale markets with December the least popular time to market a property and the summer months the most common.

May was the busiest month for resale properties added to the market while August was most active for rentals, which could be attributed to students preparing for a new term at university.

For the year as a whole the number of resale properties taken to market, 769,077, exceeded those that were let out, 692,766.

London dominated the rental market with 20 per cent of all UK rentals being based in the capital, but houses for sale in London only accounted for 10 per cent of appointments.

The South West had the highest percentage of For Sale properties at 12.2 per cent.

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