In a surprising change, Buckinghamshire's HP9 area is now the most expensive place to rent in the UK, even more than London's usual high-cost spots. A company called Cohab, which helps landlords with property software, found that renters in HP9 pay about £5,920 a month.
This is almost three times more than the average rent in the South East, which is £1,562 a month. It's also a massive 358.4% higher than the UK's average rent of £1,291 a month.
London's SW7 area, which covers parts of Kensington and Chelsea, ranks second. Here, the average rent is £5,438 a month, which is about 149.9% more than the Greater London average rent of £2,176 per month.
Other expensive spots include Cornwall's TR11 area, where rent averages £2,845 a month, and Manchester's M14 area, where it's £2,280 a month. Both are higher than the typical rents in their regions. In contrast, Swansea's SA2 area, while the most expensive in Wales at £1,510 a month, has the smallest increase over its regional average. This suggests that the rental prices there are more even with the local market. Here are the details of some of Britain's priciest rental areas:
Saveli Kotz, the CEO of Cohab, highlighted these findings and noted the significant differences in rental prices in various regions. While some areas like Buckinghamshire have very high rents, others like Wales have steadier prices, showing how rental market demand and supply can vary. For renters, this information highlights the need to consider nearby areas. Prices can change a lot even over short distances, so exploring different locations could mean finding much cheaper rent options.