The rental market in Congleton is set for another promising year, with rising rents, diverse property offerings, and robust tenant demand shaping the local landscape. For tenants, landlords, and property investors, staying informed about the latest market trends is key to making sound decisions. Drawing on data insights from Dataloft by PriceHubble, this article explores the performance of Congleton’s rental market and what it means for you.
Rising Rents in Congleton
Over the last 12 months, the average rent for properties let in Congleton was £898 per month, representing a 7% increase compared to the previous year. This steady growth reflects the area’s enduring appeal and underscores the strong demand for rental properties in the town.
Breakdown of Average Rents
The diverse rental market in Congleton accommodates a wide range of budgets and tenant preferences. Here’s a closer look at average rents by property type:
- Studio flat: £466.60
- 1-bed flat: £588.60
- 2-bed flat: £722.60
- 3+ bed flat: £725
- 1-bed house: £730.40
- 2-bed house: £807.60
- 3-bed house: £1167.80
- 4+ bed house: £1382.90
Houses in particular command higher rents, with the average for houses reaching £1,043 per month compared to £648 per month for flats. This reflects the ongoing demand for spacious homes among families and larger households.
Demographic Insights
The tenant profile in Congleton highlights a range of age groups and household compositions. The average age of renters in the town is 39, with a notable 22% of renters aged between 25 and 29. This younger demographic is often drawn to Congleton’s convenient location, access to amenities, and vibrant community.
Household Composition
Understanding household dynamics can help landlords and investors tailor their properties to market needs. In Congleton:
- 30.9% of households are single-person households.
- 34.1% of households include families with children.
These statistics indicate strong demand for both smaller flats catering to single tenants and larger homes suited for families.
Property Profiles and Yields
The types of properties let in Congleton over the past year offer valuable insights into market demand:
- Flats: 28.4%
- Terraced houses: 29%
- Semi-detached homes: 29%
- Detached houses: 13.5%
For property investors, yield performance is a critical factor. Here are the average gross yields by property type:
- 2-bed house: 5.4%
- 3-bed house: 6.3%
- 4+ bed house: 4.2%
These yields highlight the strong return on investment potential, particularly for 3-bedroom houses, which are highly sought after by families.
Long-Term Trends in Rental Growth
The Congleton rental market has experienced remarkable growth over the past five years. Average rents across all dwellings have increased by 45.1%, with significant differences between property types:
- Flats: +27.4%
- Houses: +54.8%
Short-term data also points to continued momentum, with rents for all dwellings rising by 6.99% in the last 12 months. This consistent growth reflects the ongoing desirability of Congleton as a place to live and invest.
Population Growth and Density
Congleton’s population stood at 33,288 in 2021, representing a 22.9% increase over the previous decade. The area’s relatively low population density, at 4.1 residents per hectare, contributes to its appeal, offering a balance between accessibility and a more relaxed pace of life compared to urban centres.
Employment Landscape
The town’s economic stability is underpinned by a strong employment base, with public administration, education, and health being the predominant sectors. These industries account for 24.8% of the working-age population, supporting steady demand for rental properties among professionals and families.
Why Invest in Congleton in 2024?
For landlords and property investors, Congleton offers a compelling blend of rising rents, attractive yields, and strong tenant demand. The 7% annual increase in rents highlights the market’s strong performance, while the 45.1% rise in rents over five years demonstrates its long-term potential. With a growing population and diverse property mix, Congleton remains a prime location for rental investments.
Are you a landlord looking to optimise your rental income, a tenant seeking your next home, or an investor exploring new opportunities? Belvoir Congleton is here to help. Contact us today to discuss your property goals, get expert advice, or find your ideal rental property.
