Leeds sees biggest yearly rent rise

caucasian woman in white shirt standing in front of wooden fencing with “room for rent” ads and calling to house owner

Leeds has seen the biggest annual increase in the average price of a room to rent, according to the latest analysis on the cost of renting.

London topped houseshare website Ideal Flatmate’s first quarterly Room Rental Index, with the average cost in the capital rising to £745 a month, a 31% change from the last quarter.

The most expensive borough was the City, where a room costs £1,167 a month on average.

Read more: Big rise in buy-to-let landlords returning to the market

The latest index shows that the average UK room rental cost is currently £535 per month, up 11% since Q1 of last year.

Glasgow ranked second with a cost of £588, along with Bournemouth (£575), Cambridge (£562). Leeds was the fifth most expensive UK city to rent a room, seeing with the biggest year-on-year leap in Q1, rising 50% from the same period last year to £548 a month.

The data was compiled by Ideal Flatmate by analysing the cost of thousands of spare rooms listed on the site.

Read more: Airbnb back Sadiq Khan’s calls to implement 90-night let limit in London

The flatshare website also asked tenants what their idea housemate traits were, with an acceptance of sexual preferences and religious choice topping the list. Flatmates that keep the fridge clean and tidy and are likely to help each other out, as well as doing their fair share of household chores, were also most sought after.

Tom Gatzen, co-founder of ideal flatmate, said: “A new year but a similar story where the UK rental market is concerned with the cost of renting continuing to climb as a result of the imbalance between high demand and insufficient stock levels.

“This trend is almost certain to persist over the coming year and the impending tenant fee ban could see this growth spike further as rental cost are used to recoup lost revenue.”

Discount Landlord offers competitive Landlord Insurance policies to suit your needs, at a price that’ll suit your budget!

Call 0800 294 4522 for a 60-second quote today!

(Visited 66 times, 1 visits today)
13th May 2019