If you’re planning to let out or to rent a property in Cheltenham then it makes sense to find out how the area’s lettings market is performing, so here’s our rapid review of Cheltenham’s property market.
The average private rent rose in the 12 months since September 2023
Cheltenham’s average private rent rose from £1,075 per month in September 2023 to £1,164 in September 2024, which represents an increase of 8.3%.
Cheltenham is a little bit pricier than the rest of the south west
However, it’s not much more expensive, with the south west’s average private rent being £1,139 in September 2024, up from £1,071 a year earlier.
The average private rent for Great Britain was £1,295 per month in September 2024, compared to £1,194 in September 2023.
Flats and maisonettes are proving to be popular
The average rental for Cheltenham flats and maisonettes rose by 8.7% from September 2023 to September 2024 while detached properties saw an increase of just 7.7% in the same period.
One-bedroomed properties rose by 9.1% while larger properties – four or more bedrooms, rose by 6.5% – mirroring somewhat the sales market.
The average rents in Cheltenham, by property type
The average rental price, by number of bedrooms, in September 2024 is as follows:
- One bedroom – £794
- Two bedrooms – £1,007
- Three bedrooms – £1,247
- Four or more bedrooms – £1,790
Taking the data instead by property type, average rents were:
Looking at the different property types, the average rents in Cheltenham for September 2024 were:
- Flats and maisonettes – £907
- Terraced houses – £1,121
- Semi-detached houses – £1,233
- Detached houses – £1,636
The south west’s annual rent inflation was one of the UK’s lowest
The annual rent inflation in the UK was the lowest in the south west, as well as in Yorkshire and the Humber, with both regions seeing a rise of 6.3% from September 2023 to September 2024.
London, somewhat predictably, saw the largest rise, with rents costing 9.8% more in September 2024 than they did in September 2023. The UK’s lowest rent in September was in the north east, at £688 per month.
