Average Rent, House Prices and Buy-to-Let Yield in Test Valley (July 2026)
The average private rent in Test Valley is £1,234 a month (ONS, July 2026) and the average house price £372,348 (HM Land Registry, June 2026): a gross yield of 4.0%, ranked 232 of 316 local authorities.
Rent in Test Valley
The average private rent across all property types is £1,234 a month (+8.4% on a year earlier). The regional median in the South East is £1,355.
| Property | Per month | Per year |
|---|---|---|
| 1 bedroom | £887 | £10,644 a year |
| 2 bedrooms | £1,142 | £13,704 a year |
| 3 bedrooms | £1,406 | £16,872 a year |
| 4+ bedrooms | £1,999 | £23,988 a year |
The bedroom ladder in Test Valley: one to two bedrooms adds 28.7% to the rent, two to three adds 23.1% and three to four-plus adds 42.2% (England-and-Wales medians 27.3%, 20.9% and 40.9%). The biggest step here is three to four or more bedrooms — the size where an extra room earns most, and the first place to look when comparing a conversion against its cost.
House prices in Test Valley
The average price paid is £372,348 (-0.2% on a year earlier).
| Type | Average price |
|---|---|
| Detached | £607,233 |
| Semi-detached | £361,322 |
| Terraced | £285,907 |
| Flat | £172,549 |
Rents are outrunning prices in Test Valley. Rents moved +8.4% over the year against −0.2% for prices — a gap of 8.6 points that lifts the gross yield a buyer sees today. Test Valley ranks 18th of 316 local authorities for rent growth and 258th of 316 for price growth; the England-and-Wales medians are +3.8% and +2.8%.
Gross yield by property type in Test Valley
| Type | Rent / month | Average price | Gross yield | E&W median |
|---|---|---|---|---|
| Flat | £1,142 | £172,549 | 7.9% | 7.5% |
| Terraced house | £1,406 | £285,907 | 5.9% | 5.7% |
| Semi-detached | £1,406 | £361,322 | 4.7% | 4.6% |
| Detached | £1,999 | £607,233 | 4% | 4.1% |
On these pairings the strongest gross yield in Test Valley is on flats at 7.9%, against an England-and-Wales median of 7.5% for that type; the weakest is detached. Gross figures ignore service charges, which usually make flats the thinnest net yield of the four.
What that means for a landlord
- Gross yield 4.0% (rent × 12 ÷ price) — rank 232 of 316 local authorities; the regional median is 4.3%. Net yield is lower once mortgage interest, insurance, maintenance and voids come off.
- Tenant affordability: referencing at 30× means a household income of about £37,020 a year for the average rent.
- EPC before 2030: 40% of EPCs lodged in Test Valley over the last year were below band C — the level a rented home needs by 1 October 2030 — with 30% at D (EPC ratings in Test Valley).
- Council tax: Band D in Test Valley is £2,306 for 2026/27 (council tax in Test Valley).
Lender maths on the averages. At a 5.5% stress rate and 145% rent cover — the common buy-to-let convention — the average rent of £1,234 supports a loan of about £185,680, which is 49.9% of the average price. That falls short of 75% loan-to-value, so a buyer of an average home here needs a larger deposit or a stronger rent to pass the stress test. Both numbers are conventions rather than rules — change them in the stress test.
Run the numbers for Test Valley
- Yield calculator with £372,348 and £1,234 already filled in
- Mortgage stress test at 75% LTV on the average price
- Rent affordability: the income a tenant needs to reference at £1,234 a month
- Rental income tax on £14,808 a year of rent
Nearest neighbours by yield, in the South East
| Area | Rent | Price | Yield | Rent 12m |
|---|---|---|---|---|
| Horsham | £1,465 | £436,940 | 4% | +3.5% |
| Mid Sussex | £1,420 | £426,441 | 4% | +3.4% |
| Sevenoaks | £1,803 | £543,081 | 4% | +4.2% |
| Guildford | £1,728 | £523,974 | 4% | +5.4% |
| Wealden | £1,266 | £386,787 | 3.9% | +2% |
| Surrey Heath | £1,508 | £461,396 | 3.9% | +1.8% |
All 316 areas ranked · council tax in Test Valley · EPC ratings in Test Valley.
Rents: ONS, Price Index of Private Rents (average monthly private rent by local authority, July 2026). Prices: HM Land Registry UK House Price Index (average price, June 2026). Gross yield = rent × 12 ÷ price, our calculation. Contains public sector information licensed under the Open Government Licence v3.0; contains HM Land Registry data © Crown copyright and database right 2026. Rankings and medians are ours, across 316 local authorities.
Asked about this area
£1,234 a month across all property types (ONS Price Index of Private Rents, July 2026), up 8.4% on a year earlier.
£372,348 (HM Land Registry UK House Price Index, June 2026).
About 4.0% gross on the averages — £1,234 rent against a £372,348 price — ranking 232 of 316 local authorities. Net yield depends on your mortgage and costs.
Flats on our pairing: 7.9% gross (£1,142 rent on a £172,549 price), against an England-and-Wales median of 7.5% for that type.
Rents +8.4% against prices −0.2% over the year — rents ahead, so yield is rising for a buyer today.
Referencing at 30 times the monthly rent points to roughly £37,020 a year of household income for the average home; the affordability calculator shows 24× and 36× too.
Postcode districts in Test Valley
Council tax bands, sold prices and build periods for each district — all SO postcodes · all SP postcodes.