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HIghlights
- The UK’s residential properties market has been booming after the Covid-19 pandemic, witnessing a steady recovery. In addition, the demand for rental apartments is also improving.
- Stoke-on-Trent is the cheapest city for tenants in the UK, while London is the most expensive city.
The UK’s residential properties market has been booming after the Covid-19 pandemic, witnessing a steady growth due to strong underlying demand from consumers. In addition, the need for rental apartments is also catching up slowly. According to the recent survey by The Advisor Coach, Stoke-on-Trent is the cheapest city for tenants in the UK with £489.22 as average monthly rental. The survey analysed all the major cities across the United Kingdom and listed the top 10 most affordable and expensive cities to rent an apartment.
London is the most expensive city to rent an apartment with an average monthly rental of £2,100.69, which is over four times compared to the cheapest city, Stoke-on-Trent. Brighton is the second most costly city in the UK, with £1403.22 as average monthly rental.
© 2021 Kalkine Media
Let us explore the current business growth prospects of some FTSE listed rental accommodation provider companies:
Grainger Plc (LON: GRI)
The company operates in the residential segment and is engaged in the development and management of residential rental properties. It manages close to 9,109 rental homes in the UK. The company reported significant improvement in its performance, with its property portfolio witnessing a 94% occupancy rate in the financial year ended 30 September 2021.
Also, the company reported a £141 million acquisition of Merrick Place, a 401-home build-to-rent development scheme. The company has a positive outlook for the new financial year and expects strong growth in capital value and rental yields.
Grainger Plc currently trades at GBX 311.80, down by 0.19% on 12 November 2021 at 10:35 am GMT+1 with a market cap of £2,315.7 million. In the last one year, the stock has given an 8.76% return to its shareholders.
Empiric Student Property Plc (LON: ESP)
FTSE All-Share listed company operates in the student accommodation business segment offering fully integrated functional premium student properties. The company reported good performance with an 81% occupancy rate across its different properties and collected 98% of the rent due for FY21/22.
Also, the company has recommenced its dividend pay-outs which was suspended after the Covid-19 pandemic. The dividend payment of 2.5p per share will be paid to eligible shareholders on 3 December 2021.
Empiric Student Property Plc currently trades at GBX 84.70, up by 0.83% on 12 November 2021 at 10:35 am GMT+1 with a market cap of £506.69 million. In the last one year, the stock has given a 19.49% return to its shareholders.
Unite Group Plc (LON: UTG)
The company operates in the student residential segment. It owns, develops, and manages purpose build accommodation for the students. It provides its services to over 76,000 students from 27 universities.
The company reported an occupancy rate of 94% across its portfolio of properties and has collected 96% of rent due for this year.
Unite Group Plc currently trades at GBX 1,101.50, up by 1.47% on 12 November 2021 at 10:35 am GMT+1 with a market cap of £4,331 million. In the last one year, the stock has given a 1.16% return to its shareholders.
