Average Rents Rise 19% In Cambridge During 2011

Prices have soared in the last 12 months on the back of increased demand and a relative shortage of suitable property, primarily for 'professional tenants'.

Prices, which started the year at £750 per month, have steadily risen to December's average of £950. Prices peaked in August, when they reached a high of £1,148.

haart expects average rental prices to rise again in 2012, albeit not at anything like the levels of 2011.

Philip Parsons, Lettings Manager for haart of Cambridge, said:

"Prices are likely to increase in 2012 due to the continued demand for rental property in and around the city, particularly from people moving into the area. But any rises certainly won't be at the level we have seen in the past 12 months.

"We are also likely to see people taking out longer tenancies due to the general shortage of available and affordable alternatives out there in the market.

"The demand is such at certain times in Cambridge that we have let a property before we've even had time to market it on our website."