Where in the UK are rents rising fastest? Rent increases hit 13-year high

New figures suggest UK rents are rising the fastest in 13 years, adding even more frustration to tenants in trouble.

According to the real estate portal Zoopla, rents in the private sector rose by 4.6% in September compared to the previous year – the strongest increase since 2008.

The average private rent is now a staggering £ 968 a month. But in some places rents are rising faster than in others – where are rents rising fastest?

READ MORE: What Is Stamp Duty – And How To Calculate How Much You Have To Pay?

Where are rents rising fastest?

According to Zoopla, rents are rising fastest in the south-west of England, where rents rose 9% in September compared to the same month last year.

The Dorset town of Purbeck recorded the highest local rent increase, where rents soared 16.2% year-on-year.

In Bristol and Nottingham, too, rents rose by more than 8% through September.

In contrast, rents rose 7.7% in Wales and 6.9% in the East Midlands.

Outside London, rents rose 6% overall – a 14-year high – while in the capital itself they rose a relatively modest 1.6% after falling nearly 10% earlier in the year.

Why are rents rising so quickly?

According to Zoopla, the demand for rental properties exceeds supply, which is driving rents up.

In cities and metropolitan areas in particular, the demand for the end of leave of absence and the reopening of many offices is increasing.

But also in other, more rural areas, some are looking for more space or more beautiful rural surroundings, which also drives rents up there.

Stay up to date on days out, going out, shopping and more with our Daily news by email

.

Leave a Comment