At a time of rising living costs and a shortage of housing in the Colchester lettings market, we wanted to provide an overview of the local market based on activity over the last 12 months, which we hope will prove helpful to potential Landlords and Tenants.
6% increase in average rents over the last 12 months.
Average age of a tenant 33 years
Average monthly rent £896
Flat rentals made up 52% of properties rented
Average monthly rent for a house £1032
We recently rented a newly refurbished two bedroom house in the Colchester New Town area for £1050 per calendar month and have just placed a three bedroom detached house on the market for a monthly rent of £1150. Two-bedroom houses are the most sought after rental properties.
Kitchen breakfast room in recently let two bedroom house in New Town area of Colchester.
| Property Type | Colchester Average Monthly Rent £ / Percentage of Market | East of England Average Monthly Rent £ / Percentage of Market |
| Flats | £788.03 50.7% | £884.06 52.3% |
| Detached houses | £1261.14 8.8% | £1386.25 7.5% |
| Semi-detached houses | £1084.28 19.5% | £1167.27 19.1% |
| Terraced Houses | £918.39 21% | £1015.22 21% |
For more information on Colchester Market Insights, please click the below button
