Who needs a holiday when you can rent in Liverpool for three months for the same price?

The average person in the UK spends £826 on a week of sun, sea and sand each year, however, with many travel restrictions still in place, a trip abroad is looking increasingly unlikely in 2020.

With an average of 2.4 people living in each household, the silver lining is a potential saving of £1,652 for a week’s holiday for two. The latest research conducted by deposit replacement scheme Ome has revealed how this saving could be spent in the UK rental market.

With the current average UK rent sat at £959, tenants could financially tackle nearly two months of rental costs (1.7) with a would be holiday fund. This climbs to over three months in Wales and the North East (3.1) where the average rent is £539 and £533 respectively.

Tenants could also cover two months rent or more in Yorkshire and the Humber (2.7), the North West (2.7), Northern Ireland (2.6), the East and West Midlands (2.6 & 2.5), Scotland (2.2) and the South West (2.0).

Even in London, the cost of the average holiday for two is enough to cover nearly a month’s rent. Once again this climbs to three months in Liverpool and two months or more in Swansea (2.9), Plymouth (2.7), Newport (2.7), Sheffield (2.6), Leicester (2.6), Nottingham (2.5), Newcastle (2.5), Belfast (2.3), Birmingham (2.3), Aberdeen (2.2), Cardiff (2.2), Leeds (2.1), Southampton (2.1). Manchester (2.0) and Portsmouth (2.0).

While the cost of rental deposit is higher than a month’s (five weeks rent), the average price paid for a holiday would still cover this cost comfortably across every region and major city, except for London and Oxford.

Nation/Region
Average Rent
Average Deposit
Average Holiday Cost
Holiday/Rent
Holiday/Rental Deposit
North East
£533
£666
£1,652
3.10
2.48
Wales
£539
£673
£1,652
3.07
2.45
Yorkshire and the Humber
£617
£771
£1,652
2.68
2.14
North West
£621
£776
£1,652
2.66
2.13
Northern Ireland
£627
£784
£1,652
2.63
2.11
East Midlands
£628
£785
£1,652
2.63
2.10
West Midlands
£662
£828
£1,652
2.50
2.00
Scotland
£748
£936
£1,652
2.21
1.77
South West
£816
£1,020
£1,652
2.02
1.62
East of England
£869
£1,086
£1,652
1.90
1.52
South East
£998
£1,248
£1,652
1.66
1.32
London
£1,697
£2,121
£1,652
0.97
0.78
England
£852
£1,065
£1,652
1.94
1.55
United Kingdom
£959
£1,199
£1,652
1.72
1.38
City
Average Rent
Average Deposit
Average Holiday Cost
Holiday/Rent
Holiday/Rental Deposit
Liverpool
£532
£665
£1,652
3.11
2.48
Swansea
£567
£709
£1,652
2.91
2.33
Plymouth
£604
£755
£1,652
2.74
2.19
Newport
£611
£764
£1,652
2.70
2.16
Sheffield
£629
£786
£1,652
2.63
2.10
Leicester
£629
£786
£1,652
2.63
2.10
Nottingham
£657
£821
£1,652
2.51
2.01
Newcastle
£674
£843
£1,652
2.45
1.96
Belfast
£716
£895
£1,652
2.31
1.85
Birmingham
£724
£905
£1,652
2.28
1.83
Aberdeen
£735
£919
£1,652
2.25
1.80
Cardiff
£746
£933
£1,652
2.21
1.77
Leeds
£774
£968
£1,652
2.13
1.71
Southampton
£799
£999
£1,652
2.07
1.65
Manchester
£822
£1,028
£1,652
2.01
1.61
Portsmouth
£847
£1,059
£1,652
1.95
1.56
Bournemouth
£867
£1,084
£1,652
1.91
1.52
Glasgow
£883
£1,104
£1,652
1.87
1.50
Edinburgh
£1,084
£1,355
£1,652
1.52
1.22
Bristol
£1,140
£1,425
£1,652
1.45
1.16
Cambridge
£1,253
£1,566
£1,652
1.32
1.05
Oxford
£1,509
£1,886
£1,652
1.09
0.88
London
£1,697
£2,121
£1,652
0.97
0.78
Average rental costs sourced from Gov.uk, Gov.wales, Gov.scot and NIHE.

Properganda PR

National and local media coverage for property businesses. Journo quotes delivered in minutes.

You May Also Enjoy

small house bird box
Estate Agent Talk

Families can move up the property ladder by paying 1% more in this city

Families in Suffolk can take a significant step up the property ladder with minimal financial stretch, as the team at Suffolk Pocket Door Company reveal that upgrading from a terraced house to a semi-detached home in West Suffolk costs just 1% more on average. Here Carl Benson, owner of Suffolk Pocket Door Company comments. Why…
Read More
Breaking News

Breaking Property News 20/02/25

Daily bite-sized proptech and property news in partnership with Proptech-X. Roome celebrates four years of helping students and growing universities’ revenue James Buck, co-founder of Roome sums up the 48-month journey so far, ‘Four years ago, we launched an app Owen Redman and I wished we had at university – a tool to make shared living not…
Read More
Overseas Property

How to Find an Experienced Wedding Photographer in Greece

Choosing the Right Photographer Your wedding day is one of the most important moments of your life, and capturing it perfectly requires an experienced photographer. Greece offers stunning locations, from whitewashed villages to breathtaking sunsets. But how do you find the right professional to document your big day? Research and Recommendations Start by researching online.…
Read More
Breaking News

Tenants Struggle as Shortage of Rental Housing Continues

Private sector tenants are continuing to struggle as new data highlights an ongoing shortage of homes to rent. Almost eight in ten landlords (77 per cent) across England and Wales reported strong demand from prospective tenants in the final quarter of 2024 according to research from Pegasus Insights. The data, compiled for the National Residential…
Read More
Breaking News

New Platform Will Make Tackling Criminal Landlords Easier

Private sector tenants will find it easier to hold criminal landlords to account thanks to a new online platform being launched in Parliament today. The ‘My Housing Issue’ Gateway, designed by the TDS Charitable Foundation, will ensure tenants know where to take complaints related to rented housing. Research by the Foundation has found that 50…
Read More
Breaking News

Continued growth recorded in auctioneering sector – Propertymark Auction Barometer

53% of members said that the number of lots exceeding their reserve price increased in Q4 2024 compared to the previous quarter. Only 12% reported a decrease. The highest percentage of those surveyed (41%) said that the number of lots available (for all auction types) increased in Q4 2024 in comparison to Q3. Members reported…
Read More