The areas where rental growth has hit tenants by as much as 38% in the last 5 years
York, Manchester, and Ipswich have seen the strongest rental growth across the UK in the past five years, research from ideal flatmate shows.
ideal flatmate analysed rental prices across the UK and how they have growth over the last five years, highlighting the toughest markets for tenants when it comes to financial survival.
By countries in the UK
Properties in England have seen the strongest rental growth in the past five years, rising by 15.6%.
Just behind is Scotland (14.7%), followed by Northern Ireland (11.5%).
Wales has been the most tenant-friendly country in the UK in terms of rental growth, with an increase of just 3.11% over the course of five years.
Regions of England
Regionally there’s quite a disparity in terms of the rental growth in England.
The East of England has been by far the worst region for proportional rental growth, rising by 22.1%. The second-highest increase is the East Midlands (14.94%).
There’s 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 (10.41%).
The biggest jumps by town
Typical rents in York have increased by a significant 38.1% between 2014 and 2019, rising from £749 per month to £1,034.
Close behind are Manchester (37.8%), Ipswich (37.7%) and South Gloucestershire (37.0%).
Barking and Dagenham has seen the largest increase in London at 33.2%.
Rents fall in Aberdeen, Moray, and Leeds
Rental prices haven’t increased everywhere, however.
Average rents in Aberdeen City and Moray, both in Scotland, have each fallen by 21.7% in the past five years from £923 to £723.
Meanwhile, Leeds has seen the biggest rental fall in rents in England, plunging by 18.1% from £928 to £760.
Co-founder of ideal flatmate, Tom Gatzen, commented:
“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%
|
You May Also Enjoy
Understanding House Value in the UK: A Simple Guide
What does latent defects insurance cover?
Breaking Property News – 24/04/24
An average rate of 6% for the first time since November – Rightmove’s weekly mortgage tracker
Understanding Property Valuation: A Simple Guide