UK Room Rents Soar to Record Heights
- Sarah Ruivivar
- Oct 15
- 2 min read
Room rents in the UK have rocketed to record highs!
According to SpareRoom, the average cost of renting a room now stands at a whopping £753 per month. While this is just a modest 0.8% increase from last year, it's still the highest figure ever recorded. London, unsurprisingly, leads the charge with an average rent of £995 per month, marking a slight uptick from the previous quarter.
Since 2020, room rents have surged by 28% across the UK and a staggering 37% in London. But it’s not all doom and gloom! The flatshare market is seeing a 15% boost in supply, despite landlords' jitters over the pending Renters Rights Bill.
Regionally, Wales takes the crown for the highest year-on-year rent increase, with a 2.3% hike to £586 per month. Meanwhile, the North East of England offers the most affordable rents. Commuter areas like St Albans and Brentwood are seeing a spike in demand as flatsharers flee city prices. Keighley, a stone's throw from Leeds, has witnessed a 10% rise, with rents catching up to its city neighbour.
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In the Midlands, Wolverhampton, Telford, and Warrington are experiencing a 6% rent rise, as they become commuter hotspots for Birmingham, Liverpool, and Manchester. Meanwhile, Dumfries in Scotland boasts the highest year-on-year increase at 12%, though it remains cheaper than the Scottish average.
Outside London, Edinburgh, St Albans, and Oxford are the priciest cities, while Bradford and Hull offer the best bargains. So, whether you’re a landlord or tenant, it’s a wild ride in the rental market!
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