Rental Market Update - Monmouthshire
Tue 18 Feb 2025
Molly Walters, Director
Monmouthshire’s rental market continues to evolve, with demand for quality rental homes remaining strong. Whether you’re a landlord looking to stay ahead of trends or a tenant searching for the perfect home, understanding the latest market shifts is key.
While many landlords are choosing to sell up due to increasing restrictions, Monmouthshire’s rental market remains strong, continuing to grow at a rate above the Welsh average.
The Office of National Statistics reported that the average monthly rent across Wales in December 2024 was £777, up from £716 in December 2023, giving an increase of 8.17%.
Whilst it reports that the average monthly rent across Monmouthshire was £943, a healthy 9.9% rise from the average monthly rent of £859 recorded in December 2023.
Let’s break this down into the different areas across Monmouthshire:
Monmouth Town itself is currently attracting a healthy average rent of £1279 per calendar month.
Chepstow is currently attracting an average rent of £1185 per calendar month.
Caldicot is currently attracting an average rent of £1253 per calendar month.
Usk is currently attracting an average rent of £1165 per calendar month,
Abergavenny is currently attracting an average rent of £1175 per calendar month.
Let's have a look at the average rents across Monmouthsire depending on their type and size:
The highest increase in average rent we have seen is for 4 or more bedroom properties, which increased 11.4% from December 2023 to December 2024. Whilst the average for a bedroom property increased by 9.6%.
The average rent for detached properties rose by 10.5% from Dec 2023 to Dec 2024, while semi detached properties increased by 9.5%.
By how many bedrooms there are in a property, average rents as of December 2024 in Monmouthshire were:
- One bedroom: £692
- Two bedrooms: £878
- Three bedrooms: £1,004
- Four or more bedrooms: £1,438
Taking the data instead by property type, average rents were:
- Flats and maisonettes: £789
- Terraced properties: £903
- Semi-detached properties: £974
- Detached properties: £1,246
Overall, Monmouthshire’s rental market remains strong, with demand continuing to outpace supply in many areas. Whether you're a landlord navigating the changing landscape or a tenant searching for your next home, staying informed is key. If you need expert advice or support with your rental property, we’re here to help - Get in touch today!