Where Has Rent Increased the Most in the UK?

In the midst of a cost of living crisis, soaring inflation, and stagnant wages, the average rent in the UK has increased by 8.0% over the past year, as reported by Zoopla. This dire situation has forced many young adults to seek refuge back with their parents. However, for those unable to return home, Add Living, a property management company based in Leeds, has examined the data to shed light on the predicament.

According to Olly Roberts, a surveyor at the firm, renters across the UK are facing an exceptionally tough time, and those struggling to afford relocation should show themselves some compassion. The number of people privately renting has doubled in the last two decades due to the exorbitant housing prices, hence the overwhelming demand for affordable housing.



City

Average Rent in 2022

Average Rent in 2023

% Change

1 Year's Rent (2023)

London

£1,300

£1,550

19.20%

£18,600

Cardiff

£889

£1,043

17.30%

£12,516

Glasgow

£720

£844

17%

£10,128

Leeds

£792

£916

15.60%

£10,992

Manchester

£856

£987

15%

£11,844

Edinburgh

£990

£1,133

14.40%

£13,596

Bristol

£1,145

£1,298

13.40%

£15,576

Nottingham

£797

£902

13.20%

£10,824

Southampton

£916

£1,035

13%

£12,420

Newcastle

£659

£745

13%

£8,940

Liverpool

£673

£758

12.60%

£9,096

Cambridge

£1,296

£1,440

11.10%

£17,280

Birmingham

£767

£849

10.70%

£10,188

Sheffield

£687

£747

8.70%

£8,964

Aberdeen

£595

£636

6.90%

£7,632

Belfast

£679

£702

3.40%

£8,424

Source: AddLiving




Back to Blog

Related Articles

The UK Rental Market: Continual Growth and Persistent Demand

According to Nicky Stevenson, Managing Director of Fine & Country, the UK rental market shows no...
Read More

Thriving UK Rental Market: Rising Rents and Stable Voids in May

The UK rental market continues its positive trajectory as the cost of rent across England increased...
Read More

UK Rents Rise in March and Show No Signs of Slowing

Good news for investors as both rents and voids proved remarkably sticky during March, according to...
Read More