UK Rents Soar to Record Highs: Urgent Call for 120,000 New Rental Properties to Tackle Housing Crisis

July 4, 2024
UK Rents Soar to Record Highs: Urgent Call for 120,000 New Rental Properties to Tackle Housing Crisis
  • Average private rents in Great Britain have reached record highs.

  • Typical advertised rents outside London are at £1,316 per month, while in London they are at £2,652 per month.

  • Rent growth has hit 7% outside London and 4% in London.

  • Landlords are passing on increased costs due to higher interest rates.

  • Rightmove is urging the next government to create an additional 120,000 rental properties to balance supply and demand.

  • Scotland is the most affected region by the rent increases.

  • London has shown some improvement in the rental market.

  • The housing crisis highlights the need for more affordable housing options for renters.

  • Some firms report rent decreases despite high demand, emphasizing the urgency for action.

Summary based on 3 sources


Get a daily email with more UK News stories

More Stories