Boom time for rentals market

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AVERAGE rents have hit a new record in Sheffield and are at their highest level this year.

Figures from Haybrook, Sheffield’s largest independent estate agent, show the average monthly rent in the city rose two per cent to £580.37 in August.

The firm expects rents to break through the £600 a month barrier before the end of 2011.

Monthly prices currently range from £295 for a one-bedroom flat in Eckington to £2,495 for a six-bedroom detached house in leafy Brincliffe.

Sharon Jackman, Haybrook lettings manager, said: “There is a very active lettings market in Sheffield at the moment, with many of the properties being taken as soon as they appear.

“I would expect rents to rise even higher in the coming months given the current level of demand.”