Thursday, 10 March 2016

The Furnished Index Calculator

The David Phillips Furnished Index Calculator is here – a new, industry first tool to help investors, agents and property managers make more informed decisions about how and when to furnish their properties in order to maximise the returns on their investment.

"In fact, I haven’t seen anything as comprehensive as this before. The almost street-by-street detail is quite fascinating." - Liz Hamson, Property Week

We have worked closely with a number of agents to collect primary and secondary data that covers the entire UK, with information on the best furnishing practices across every postcode in the country. Using this information, the choice of whether or not to furnish and at what level is no longer a case of educated guesswork, but a case of simply using our easy to navigate calculator.

Our data shows that 50% of UK flats were let furnished in 2015, along with 32% of rental houses. Furnished flats achieved an average rent premium of 27% over unfurnished flats during the same period, while houses achieved a 15% premium. This shows that there are stark benefits to furnishing rental properties – however, there are regional considerations to be made. Only 2 of the 10 largest furnished postcodes were outside of London; RG1 and LS6 – two large student areas.

"I absolutely love the research. As an agent, this is really good for landlord education." – Roxanna Zea, Rentify

Furnishing inside London is almost a requirement – 82% of properties in travel zone 1 were offered furnished, with yield increase in the City as a whole of almost 60% for furnished properties. Inside the entire M25 there was an average yield increase of 16%, while outside of London 24% of properties see no rental premium from furnishing.

While it may seem that a furniture company recommending furnishing has a motive to encourage the purchase of furniture, we are as transparent as possible with our data – for 31% of postcodes in the UK there is little evidence of any benefit from furnishing, and if this is the case for your properties we will make this clear.

To start using the calculator now, head to our website.

To discuss the research in more detail or be sent the full report, please feel free to contact:

Ed Grant, Director, Agency & Developers, or 07584 528 925

For media enquiries, please contact: Richard Eagleton, Marketing Director, or 07713 507 143

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