Average monthly rent in increases by 9%

Figures released by the Office for National Statistics (ONS) has found that the average monthly rent in the UK rose by 9% in the year to February – the highest annual increase since records began in 2015.

The average monthly rents hit £1,276 in England, a 8.8% increase year-on-year.

In Scotland, they rose by 10.9% to an average of £944, and in Wales by 9% to £723.

Data for Northern Ireland is a couple of months behind the rest of the UK with  the ONS reported a 9.3% rise over the year to December 2023.

London saw the biggest rise in England with the average monthly rent up by 10.6% year-on-year at £2,035.

Ben Twomey, Chief Executive ot the campaign group Generation Rent, said “The figures are shocking but not surprising with tenants were reaching  the very end of what they can afford.”