Recent data from This is Money highlights a notable shift in rental demand towards locations like Esher in Surrey and Kilmarnock in Scotland. Both areas have experienced some of the sharpest increases in flatshare enquiries over the past year. This trend reflects the growing pressure on renters as city centre rents remain prohibitively high.
Esher’s appeal lies in its commuter-friendly position combined with relatively more affordable rents compared to London’s core. Our Prop AI Deals data confirms that while central London rents have edged up by around 5% in the last 12 months, Esher’s rental prices have remained stable or increased only marginally. This affordability, paired with good transport links, explains the surge in demand from young professionals seeking cost-effective alternatives without sacrificing access to work hubs.
Kilmarnock’s rise is more surprising given its traditional status as an unfashionable location. However, the data suggests a growing number of renters are prioritising value over prestige, especially as remote and hybrid working reduces the need to live close to major cities. Rental yields in Kilmarnock remain attractive for investors, with average rents increasing by 7% year-on-year while property prices have lagged behind, presenting opportunities for buy-to-let investors aiming for income rather than capital growth.
For investors, these patterns underline the importance of looking beyond established hotspots. Areas outside prime city centres can offer resilience and rental growth potential, driven by affordability and evolving tenant preferences. Esher and Kilmarnock exemplify how shifts in working habits and cost pressures are reshaping the rental market geography.
Source: https://www.thisismoney.co.uk/money/mortgageshome/article-15590995/Renters-turn-Esher-Kilmarnock-amid-sky-high-city-rents-demand-unfashionable-spots-soar.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
