x
By using this website, you agree to our use of cookies to enhance your experience.
STAY CONNECTED!
    
newsletter-button

TODAY'S OTHER NEWS

Where has seen the greatest rental price growth over the last five years?

Fresh analysis looking at rental prices across the UK and how they have increased over the last five years shows that York, Manchester, and Ipswich have seen the strongest growth during that period. 

Typical rents in York have increased by an average of 38.1% between 2014 and 2019, rising from £749 per month to £1,034, according to the research by ideal flatmate. 

Manchester saw growth of 37.8%, followed by 37.7% in Ipswich and 37% in South Gloucestershire. 

Barking and Dagenham has seen the largest rise in London at 33.2%. 

In terms of countries, properties in England have seen the strongest rise in rental prices over the past five years, increasing by an average of 15.6%. 

Scotland saw growth of 14.7%, followed by 11.5% in Northern Ireland, while Wales has seen rental growth of just 3.11% over the course of five years.

Regionally there’s quite a disparity in terms of the rental growth in England, with the East of England leading the way in terms of for proportional rental growth, rising by 22.1%. The second-highest increase is the East Midlands at an average of 14.94%.

There has been growth of between 12-13% across the rest of England, with the exception of the North East, where average rents have grown the least at an average of 10.41%.

Among the small number of areas to actually see rents fall are Aberdeen, Moray, and Leeds. 

Average rents in Aberdeen City and Moray, both in Scotland, have each dropped by 21.7% in the past five years from £923 a month to £723 a month.

Meanwhile, Leeds has seen the biggest rental fall in rents in England, plunging by 18.1% from £928 a month to £760 a month.

Tom Gatzen, co-founder of ideal flatmate, said: “While initial rental affordability may be based on the cost of renting in a given area, many renters are aware of this cost and make a choice to live there.

“However, the real squeeze in rental affordability is the continued increase in rents in many parts of the UK on an annual basis.

“While an increase of £250 over five years might not sound significant, for those renting in York and already struggling with the cost, it’s enough to price them out of the sector altogether.

“Over the last five years, the growing preference for people to share the burden and live with others rather than go it alone has been driven out of necessity rather than choice, but at least, we have better platforms, technology, and transparency to accommodate this growing trend now.”

Location

Average rental price (per month) 2014

Average rental price (per month) 2019

Change / growth (2014-2019)

England

£742

£858

15.6%

Wales

£500

£515

3.1%

Scotland

£638

£732

14.7%

Northern Ireland

£549

£612

11.5%

East of England

£705

£863

22.4%

East Midlands

£542

£623

14.9%

London

£1,530

£1,727

12.9%

West Midlands

£577

£651

12.8%

South West

£695

£784

12.8%

North West

£541

£610

12.8%

South East

£873

£980

12.3%

North East

£490

£541

10.4%

Yorkshire and the Humber

£553

£609

10.1%

Rankings - best locations from 2014 to 2019 - by average rental price change/growth

Location

Average rental price (per month) 2014

Average rental price (per month) 2019

Change / growth (2014-2019)

York

£749

£1,034

38.1%

Manchester

£609

£839

37.8%

Ipswich

£467

£643

37.7%

South Gloucestershire

£713

£977

37.0%

Barking and Dagenham

£895

£1,192

33.2%

Dartford

£753

£997

32.4%

Epping Forest

£995

£1,306

31.3%

Newham

£1,084

£1,422

31.2%

Cambridge

£934

£1,225

31.2%

Newcastle upon Tyne

£549

£717

30.6%

Derby

£444

£578

30.2%

Redbridge

£1,003

£1,303

29.9%

Bristol

£828

£1,070

29.2%

Exeter

£757

£976

28.9%

Three Rivers

£1,055

£1,356

28.5%

Rankings - worst locations from 2014 to 2019 - by average rental price change/growth

Location

Average rental price (per month) 2014

Average rental price (per month) 2019

Change / growth (2014-2019)

Aberdeen City

£923

£723

-21.7%

Moray

£923

£723

-21.7%

Leeds

£928

£760

-18.1%

Windsor and Maidenhead

£1,342

£1,252

-6.7%

Bracknell Forest

£1,093

£1,021

-6.6%

Torfaen

£517

£486

-6.0%

Surrey Heath

£1,156

£1,101

-4.8%

Doncaster

£487

£471

-3.3%

Plymouth

£586

£569

-2.9%

Pembrokeshire

£484

£471

-2.7%

Elmbridge

£1,816

£1,776

-2.2%

Redcar and Cleveland

£505

£497

-1.6%

Rhondda Cynon Taf

£424

£419

-1.4%

Cotswold

£951

£939

-1.3%

Richmond upon Thames

£1,917

£1,896

-1.1%

Poll: Do you expect to see a continued increase in rents across many parts of the UK over the next five years?

PLACE YOUR VOTE BELOW

  • icon

    Dreaming again, it’s increased costs by Regulators that’s forcing up rents and LL’s trying to keep up with it, that’s not growth.

  • icon

    When counting rent increases for the 5 years 2014 to 2019 don’t forget to factor in the huge costs imposed by Regulators in other words there is no growth, if you are just going to look at income in business without deducting
    outgoings you won’t last very long (Thomas cook). We also have to bear in mind the value
    of the money gone down 18% so everything is costing us more, no growth ?

icon

Please login to comment

Zero Deposit Zero Deposit Zero Deposit
sign up