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