The latest Tenancy Deposit Ratings are out!

Avid readers of our blog and anyone who follows us on Twitter will remember that earlier this year we released our second official Tenancy Deposit Ratings.

For anyone who doesn't remember, every three months we crunch the numbers and calculate the average tenancy deposit for 100 post codes across England and Wales.

So what's new this quarter?

It's probably unsurprising that most places have seen very little change. While London saw a drop of about £75, residents of the capital will still have to part with an average of £1,750 when they begin a new tenancy.

Likewise, anyone beginning a new tenancy in Cambridge will have to pay an average of £82 less for their tenancy deposit, but the average there is still over £1,100.

Birmingham, Sheffield, Manchester, Bristol and Newcastle upon Tyne all saw very little change, but the average did go down slightly in all of those post codes.

Where was the biggest change?

Overall, Colchester saw the biggest increase, with the average tenancy deposit rising more than £300 from £576 to £905.

Bournemouth also saw a sizeable leap from £780 to £1,032, while Enfield (where the average tenancy was already £1424) saw a rise of £215.

Why such big changes?

Many things can affect the average tenancy deposit of a town or city. Places with a large student population for example will usually see bigger changes at either end of the academic year. One reason that deposit averages can differ in the last two quarters of the year is because of the timings of the postcode’s returning student population, whose deposits are often cheaper. This can also make the leap back up in the following quarter more pronounced. In addition to which, higher deposits are often linked to increased rents, as many landlords set them proportionately.

How does my post code compare?

Take a look at this table to see how the average tenancy deposit has changed where you live.