Local Authority / Private Registered Provider (PRP)
Since 2001-2, only Sedgemoor District Council and Taunton Deane Borough Council have retained their own housing stock. Average weekly rents in 2012/13 were £66.85 in Sedgemoor and £73.54 in Taunton Deane. In the last decade rents have increased by an average of 40% in Sedgemoor and 60% in Taunton Deane. The increase in Taunton Deane is broadly in line with that seen nationally.
Local Authority average weekly rents, 2002/03, 2007/08 and 2012/13
Local Authority rents tend to be around 20% lower than housing association rents. As at 31 March 2013, the average weekly rent for Private Registered Provider (PRP) stock in Somerset ranged from £85.34 in Mendip to £90.05 in West Somerset.
Since 2002/03, South Somerset and Mendip have seen the largest increases in average PRP rents (up 66% and 65%) respectively. Increases in Sedgemoor (38%), Taunton Deane (43%) and West Somerset (45%) have been more modest, although West Somerset continues to have the highest average cost of any district.
Private Registered Provider (PRP) average weekly rents, 2003, 2008 and 2013
It should be noted that the above charts are based on average rents and that individual rents charged will vary significantly depending on the size of a property and the particular rent regime. Because these can differ between districts, please treat district comparisons of average rent with caution.
Private Rental Market Statistics
According to data from the Valuation Office Agency (VOA), in the 12 months to September 2013 the average rent paid to private landlords in Somerset was an estimated £612 per month, equivalent to £141 per week. The average cost of renting a single one bedroom property was £101 per week, while the average cost of a two bedroom property was £130 per week. Average private rents in Somerset are below regional and national averages.
The Home Truths 2013/14 report from the National Housing Federation notes that the cost of privately renting a home in the South West region is projected to increase by 40% between 2013 and 2020. Within Somerset, Taunton Deane and Mendip districts are forecast to see the largest increases in private rents over the coming years.