Map shows where rent has risen by more then 10% outside London in the last year | UK News

The housing market in London is known for its high rents and high demand for properties.

But it’s not just the capital which is seeing prices rise.

New analysis by Rightmove shows average rents outside of London have gone up 10% in a year – with Scotland seeing the biggest increases of 14.5%.

The cost of renting a home outside of London reached an average of £1,278 per month between July and September, meaning rents have gone up for the fifteenth consecutive quarter, MailOnline reports.

Some towns and cities have rent rises far above the average, however, with rents in Luton in Bedfordshire going up by 23.6% in the last year, to £1,263.

Tim Bannister, Rightmove’s director of property science, said: ‘Record rents and far more tenants looking to move than there are homes available means it will still feel very difficult for many tenants navigating the market. 

‘However, there are signs that some of the pressure between supply and demand is beginning to ease, with the number of new rental properties coming to the market now at its highest level since the end of last year. 

‘While it is likely that there is some way to go before this filters through to rental prices, if the improving trend between supply and demand continues, we could start to see the pace of yearly rent rises slow more significantly than it has been.

‘In the current market, tenants are having to do more to have the best chance of securing a rental property.’

Within London, average rents have gone up by 12.1% in the last year, to £2,627, while an average of 25 people are enquiring about each property, up from eight people per property in 2019.

In the north west of England, average advertised monthly rental costs have risen by 12% in the last year to an average of £1,105, Rightmove said. 

Meanwhile, in the north east of England, average monthly advertised rental costs have increased by 9.8% year-on-year to £856 per month. 

Wales has seen the smallest annual increase in advertised monthly rental costs, with a rise of 5.9% to £1,032 per month.  

The increase in enquiries is being driven by the ‘ongoing imbalance’ between supply and demand, with 41% more tenants looking to move than in 2019 and the number of homes available down 35%, according to the findings. 

Ria Laitmer, a lettings manager at Clarkes estate agents in Dorset, said: ‘The gap between high demand and a severe shortage of rental stock at the moment is just crazy. 

‘We’re receiving mounting enquiries for each property to rent from would-be tenants, with queues of tenants arriving to open-house viewings and the majority being left disappointed as there is just not enough properties on the market to meet the demand.’

However, the total number of available properties to rent is up by 14% compared with last year, while the number of new properties coming to the market to rent is now 7% higher than at this time last year. 

Rightmove said this was the biggest annual jump in new properties to rent since November 2022.

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