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In May, the estate agents Hamptons said the average new monthly rent outside London had passed £1,000 for the first time, and that tenants in Great Britain were typically paying 25% more than at the start of Covid. He added that the “dramatic” rental rises also meant people were stuck in “unsuitable homes” that they can afford but would like to leave. “Rising rents on new tenancies mean renters face compromises like squeezing into smaller homes or moving further away from workplaces and family,” said the chief executive of Generation Rent, Ben Twomey. They are in line with other surveys in recent months that have highlighted how sizeable the rent rises are given the shortage of properties. This figure reflect rooms advertised via SpareRoom that are typically in shared homes. In London, room rents reached an average of £971 a month. SpareRoom’s data showed rents had increased year on year in all the UK’s 50 largest cities and towns, with the biggest rises in Edinburgh (up 25%), Middlesbrough (21%) and Manchester (20%). The largest regional increases were in Northern Ireland – up by 20% year-on-year – closely followed by London and Scotland, both up by 19%. The data from one of the UK’s largest home-sharing websites shows that in the second quarter of this year the average monthly cost of a room was £704 – 17% higher than in the same period of 2022.
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