Average Monthly Rent in UK Jumps 9% in a Year, Reaching New Highs

Wednesday, 20 March 2024, 13:28

The average monthly rent in the UK spiked by 9% in the last year, setting a historic record, according to the latest data from the Office for National Statistics. This surge marks the highest annual increase since records started in 2015, portraying a concerning trend in the rental market. The sharp rise in rental costs across all regions of the UK signifies a pressing 'cost of renting crisis' that tenants are facing.

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UK Rent Prices Surge by 9% Yearly, Historic Record

The average monthly rent paid by tenants in the UK rose by 9% in the year to February, official figures show – the highest annual increase since records began in 2015.

Figures released by the Office for National Statistics on Wednesday highlighted what one campaigner described as a 'cost of renting crisis', with prices rising in all parts of the UK.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.