US Edition
Rents rise by £221 a month in three years: Report
ENGLAND, UNITED KINGDOM, JUL 22 – Rents have risen 21% over three years due to strong demand, limited rental supply, and many first-time buyers priced out of the market, Zoopla analysis shows.
- Analysis by Zoopla finds rents in the United Kingdom rose sharply over three years, increasing by an average £221 a month and outpacing inflation.
- Strong rental demand and limited supply have driven increases, with demand-supply imbalance hitting lower-income renters hardest, as pandemic-driven demand, job market strength and migration accelerated rent rises.
- In the North West, rents have spiked notably, with Bolton up 31.5%, Wigan 31.1%, and Blackburn 29.1%.
- In response to the Renters' Rights Bill, over 40% of landlords plan further rent hikes, adding £74 per month to tenants' costs.
- To tackle high rents, boosting rented housing supply is vital, as homeownership barriers mean rental demand and rent growth will persist, albeit slower.
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Leaning Left2Leaning Right0Center2Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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