Rent price reaches record high as cheapest area in UK revealed

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"The average rent being advertised across Britain hit a record high of 1,577 per month in August, according to a leading property website. Data reveals London as the most expensive area to rent and the North East as the cheapest. Average advertised rents were 3% higher than a year earlier, with a constrained supply of homes contributing to rising rents, Rightmove said."

"While the number of available homes to rent across Britain is 8% higher than a year earlier, it is still 27% lower than in August 2019, the website added. Average advertised rents were 3% higher in August than a year earlier, Rightmove said (Anthony Devlin/PA) (PA Archive) Average advertised rents are rising fastest in the north-west England, with average rents around 10% higher than a year earlier, and slowest in London, where average rents are 2% higher annually."

The Independent solicits donations to fund on-the-ground journalism and maintain paywall-free reporting, enabling reporters to cover contentious issues across the political spectrum. The average rent being advertised across Britain reached a record high of 1,577 per month in August, with London the most expensive area and the North East the cheapest. Advertised rents were 3% higher year-on-year, driven by constrained supply. Available rental homes were 8% higher than a year earlier but remained 27% below August 2019 levels. Rents rose fastest in north-west England (around 9.7% year-on-year) and slowest in London (around 2.0% year-on-year).

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