Rents are rising at the fastest pace since 2008 with people rushing back to city centres.
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Renting in the private sector has risen by 4.6% in comparison to September last year. The average price of renting is now £968 per month making this the strongest growth seen in the last 13 years.
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Outside London rent is up by 6% which is a 14 year high. This lack of increase is owing to a higher demand for city living with a limited supply of properties. Rent has also increaded the most in the South West (9%), followed by Wales (7.
7%) and the East Midlands (6.9%).
With lockdown easings and businesses reopening, there has been a steady increase in a return to city centres and built up areas.
Rents in local areas fluctuate from month to month, many cities such as Nottingham and Bristol have also seen the average tenants bill go up by more than 8% between September 2020 to 2021.
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