Rents have surged by an astonishing 60 per cent in some parts of Britain over the past eight years, new data reveals.
Figures published by the Office for National Statistics shows rental prices in the City of Bristol increased by an eye-watering 60.2 per cent between January 2015 and October this year.
Over the same period, rental prices grew by 57.4 per cent in South Gloucestershire and 53.5 per cent in Salford.
For the first time, the ONS has been able to show trends in rental price movements for local authorities in England and Wales and regions of Scotland.
Their interactive map reveals how ‘Generation Rent’ has been hammered by surging housing costs across the UK over the past few years.
Try out the interactive map yourself here:
Rental prices in the City of Bristol increased by an eye-watering 60.2 per cent between January 2015 and October this year
The data reveals how, according to the Price Index of Private Rents (PIPR), in January 2015 the price of renting in the City of Bristol was £1,054, which increased to £1,688 in October this year.
But not all parts of the country experienced the same surge in rental prices, with the ONS data showing, between January 2015 and October 2023, rental prices grew the least in Runnymede (11 per cent), Ceredigion (11.2 per cent) and West Lancashire (11.7 per cent).
The PIPR, a new estimate of rent prices by the ONS, showed the average monthly rental price in Britain was £1,202 in October.
This was an increase of £284 since January 2015, and an increase of £93 in the past 12 months alone.
The average rental price for England (£1,239) was higher than for Scotland (£916) and Wales (£710).
Data for Scottish rents are mainly for advertised new lets, while data for England and Wales includes rents for both new and existing tenancies.
The ONS noted how new laws in have capped in-tenancy rental price increases in Scotland since late 2022.
In Scotland, rental prices grew the most in Greater Glasgow (an increase of 63.7 per cent) between January 2015 and October 2023, while they grew the least in Aberdeen and Shire (-18.9 per cent).
The average rental price for England (£1,239) was higher than for Scotland (£916) and Wales (£710)
The average monthly rental price was highest in London, averaging £1,968 in October. This was £734 higher than the next largest average rent, which was £1,234 in the South East
Rents for flats and maisonettes were growing at the fastest rate of all property types in October, at 9 per cent, while terraced houses saw the slowest growth (7.8 per cent)
The ONS data reveals how rental prices for one-bedroom properties were growing at the fastest rate in October, at 8.7 per cent
The average monthly rental price was highest in London, averaging £1,968 in October 2023.
This was £734 higher than the next largest average rent, which was £1,234 in the South East.
The lowest average monthly rent was the North East, at £644, for October this year.
The ONS data also shows how detached houses were, on average, the most expensive house type to rent in Britain (£1,399) in October 2023.
This was followed by semi-detached houses (£1,202), terraced houses (£1,192) and flats and maisonettes (£1,165).
Rents for flats and maisonettes were growing at the fastest rate of all property types in October, at 9 per cent, while terraced houses saw the slowest growth (7.8 per cent).
This contrasted with 2021, where flats and maisonettes had the lowest annual rental price change - although the ONS suggested this was due to a fall in demand for rental properties in London during the Covid pandemic.
The ONS data reveals how rental prices for one-bedroom properties were growing at the fastest rate in October, at 8.7 per cent.
Four or more-bedroom properties saw the lowest growth rate, at 8.0 per cent.