Rental price divide laid bare as costs surge

Rental price divide laid bare as costs surge

0:01 AM, 19th September 2024, About A week ago 1

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As university students prepare to start the next academic year, some students will have to spend a record amount on rent.

According to Rightmove, St Albans has been named Great Britain’s most expensive city to rent outside London, with costs 71% above the UK average, at £2,307 per calendar month (pcm).

The national average rent outside London has reached a record £1,349 per calendar month, marking a 5% increase from last year.

Rental divide across Great Britain is clear

Following closely, Oxford has an average rent of £2,237 pcm, while Cambridge ranks third with an average rent of £2,072.

The most expensive area contrasts with Carlisle, which has the lowest rental prices in Great Britain, with an average rent of £791 per month, 41% below the national average.

Rightmove’s property expert, Tim Bannister, said: “The rental divide across Great Britain is clear, with an average difference of just over £1,500 between the most expensive and cheapest cities.

“Many of these cities have seen rental growth of over 40% over the past five years, meaning it’s likely to be a significant consideration when students are thinking about where to study, and those who have already graduated working out if they can afford to stay in that city and find a job.”

Full list of most expensive and cheapest cities to rent

Other cities with lower rents include Hull, with an average of £804 per month, and Sunderland, where the average rent is £807.

The full list of the most expensive and cheapest cities to rent can be viewed below.

Most expensive cities to rent 

Cities Region Average monthly advertised rent August 2024 Average monthly advertised rent August 2019 5 year % change
St Albans East of England £2,307 £1,738 +33%
Oxford South East £2,237 £1,588 +41%
Cambridge East of England £2,072 £1,483 +40%
Winchester South East £2,049 £1,565 +31%
Brighton South East £2,040 £1,530 +33%
Edinburgh Scotland £1,778 £1,251 +42%
Bristol South West £1,758 £1,191 +48%
Chelmsford East of England £1,686 £1,204 +40%
Milton Keynes South East £1,590 £1,137 +40%
Southend-on-Sea East of England £1,495 £1,077 +39%

 

Cheapest cities to rent

Cities Region Average monthly rental payment August 2024 Average monthly rental payment August 2019 5 year % change
Carlise North West £791 £539 +47%
Hull Yorkshire and Humber £804 £591 +36%
Sunderland North East £807 £591 +37%
Stoke-on-Trent West Midlands £863 £584 +48%
Wrexham Wales £874 £589 +48%
Bradford Yorkshire and the Humber £947 £581 +63%
Preston North West £952 £642 +48%
Doncaster Yorkshire and the Humber £974 £649 +50%
Lancaster North West £993 £723 +37%
Wakefield Yorkshire and the Humber £1,030 £707 +46%

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Judith Wordsworth

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8:29 AM, 21st September 2024, About 6 days ago

Whilst some on here are student landlords I personally believe that all universities should provide Halls of Residence for all years and no students should be in private rental accommodation.

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