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.

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