Map reveals Britain’s CHEAPEST cities to rent as bills soar by £3,000 a year – where does your area rank?
A NEW map has revealed some of Britain’s cheapest cities to rent in, as tenants face whopping bills of £3,000 a year.
Rent prices have skyrocketed in recent years with a 3 per cent increase over the last 12 months and a 7.4 per cent increase the year before.
GettyRent prices increased by 6.8 per cent in Grimsby last year, but the monthly average remains at £655[/caption]
GettyAverage rent sits at £889 per month in Belfast, despite 9.2 per cent inflation[/caption]
However, even in areas where rent is rising rapidly, Brits might still be able to get their hands on a decent monthly agreement, a new report by Zoopla has revealed.
The data shows that even in the 11 cities were rent is growing the fastest, tenants can rent for as little as £620 per month.
This is around half the national average of £1,284 per month.
Burnley, Lancashire, tops the list – with average rent prices of £620 per month, despite 8 per cent rent inflation over the last 12 months.
Grimsby in Lincolnshire comes a close second – with £655 despite 6.8 per cent inflation.
Tenants in Blackburn, Birkinhead, Wakefield, Stoke and Wigan can also enjoy reasonable deals – with rent prices ranging from £735 and £798.
While just about scraping it into the list are Belfast (£819), Bolton (£869), Rochdale (£881), and Newport (£930).
By contrast, houses in Nottingham have become 1.2 per cent cheaper to rent over the last 12 months – and yet monthly rent comes at the steeper price of £978.
While Brits across the county pay an average of £1,284, this falls to £1,059 when London is excluded.
Conversely, prices in the UK as a whole have risen by 3 per cent, while prices excluding London have risen by 3.9 per cent.
The report is good news for those entering the rental market, as it suggests an improved rental landscape compared to last year.
It is also positive news for those looking to move to rapidly developing areas – where prices are getting higher but still remain well below the national average.
The report said: “Rental market conditions are steadily improving after three years of chronic under supply and excess demand, although there is still an ongoing gap which is pushing rents higher in more affordable markets.”
Richard Donnell, executive director at Zoopla, added: “Rents are rising more slowly than average earnings, which will be welcome news for renters after three years where rents have risen rapidly.
“Affordability remains the primary constraint on rental inflation rather than increased supply and greater choice of homes for rent.
“We expect rents to increase by three to 4% over 2025 as slower growth in large cities is offset by faster growth in more affordable markets.”
It comes after it was revealed in January that landlords would be banned from charging prospective tenants massive upfront fees.
In a huge relief for renters, Housing Secretary Angela Rayner announced she was making it illegal for residents to be charged several months rent in advance in order to secure a home.
Key takeaways from the report
The rental market is improving – with only 3 per cent inflation compared to 7.4 per cent the previous year
Rent prices are rising more slowly than earnings
Although prices are increasing more rapidly in some areas, these areas still have cheaper rent prices overall
An increase of 3 to 4 per cent is expected over the coming year
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