The latest data continues to paint a bleak picture for renters amid rising prices.
According to the property website, the average advertised rent outsideDuring the period from 1 April to 30 June, the average advertised rent outside London hit another new record of £1,126 per calendar month. The figure is a 19% jump, equivalent to £177 more, in the two years since theIn London there was also a new record average advertised rent of £2,257, and the website said the 15.8% annual rate of growth was “the highest ever annual rate of any region”.
In areas such as Manchester, Kent and Liverpool, rises of between 19.4% and 23.4% have been seen within the space of a year, as demand for rental properties greatly outstrips supply, leading to skyrocketing prices and intense competition among tenants. Three seaside towns – Weymouth, Torquay and Margate – also saw above-average annual increases of 19.1%, 18% and 16.9% respectively.
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