Guildford Rents – Third Highest in UK

Published on: 2 Sep, 2012
Updated on: 2 Sep, 2012

Patricia Woodbridge

By Patricia Woodbridge,

Partner at Seymours Lettings

I read the other day that the average monthly rent in Guildford, £1,032, is the third highest in the country. I am not surprised. It all comes down to supply and demand.

A lot of people want to live in Guildford as it is close to London for commuting, has excellent schools and is surrounded by beautiful countryside.

In addition, multinationals like SANOFI, Ericsson and Colgate Palmolive have their UK head offices here and need to accommodate their executives, who come over for a certain amount of time and need somewhere to live.

That puts pressure on available properties and the limited supply of rental space. That also explains partly why the market in Guildford continues to thrive with rents of £950 a month being achievable for a one bedroom flat in the town centre.

In the new luxury class, for example, at The Residence, this can rise to £2,000 a month, which includes parking at the Radisson Blu hotel and preferential use of their spa and treatment rooms.

To give an idea of the health of the market, at Seymours Lettings we have seen volumes of business rocket by 100% since last summer.

One feature behind this has been the return of international business where local multi-nationals are bringing in their senior executives and managers from abroad again, and we’re dealing with their relocation agents. This is a welcome boost and augurs well for the rest of the local economy.

A second stimulus has been people moving to the Guildford area for the excellent schools with a July deadline to sign up with the school before the September term starts.

An indication of the popularity of Guildford with upmarket clients is the lack of stock commanding £2,500 – £6,000 rent per month and this is much in demand. It’s also worth noting that renting is very popular currently and private rentals are now at their highest level for 40 years, according to Nationwide.

Therefore anyone considering buy-to-let as an investment locally should be greatly encouraged, and indeed we are finding that more and more prospective landlords are seeking our advice on all aspects of renting out: location, type of property, rents and occupancy. Of course, we’re always delighted to help.

See also the articles on ‘Buy To Let’ in the Ads & Property section

Patricia Woodbridge can be contacted on Tel. (01483) 45 77 22 or at info@seymours-letting.co.uk . And Seymours Letting & Management Services Ltd are at www.seymours-letting.co.uk.