Property News

The Most Expensive and the Cheapest Places to Rent in the UK

Rose - January 14, 2016
The Most Expensive and the Cheapest Places to Rent in the UK

The Most Expensive and the Cheapest Places to Rent in the UK

Flat share website EasyRoommate has revealed the most expensive and the cheapest places to rent a double room in the UK.

Tenants in the UK pay an average of £492 per month for a double room, an increase of 13% (£57) on last year, when rent was £435 a month, according to the site.

It’s no surprise that the most expensive place to rent in the UK is London, where a double room costs an average of £700 per month, up 8% on the end of 2014.

Renting in Manchester now costs 7% more than at the end of 2014, with the average rent for a double room now sitting at £393 per month. Rents rose by over 6% in Birmingham, from £358 at the end of 2014 to £381 at the end of last year.

Top ten most expensive places to rent in the UK

Position

Area

Rent per month for a double bedroom

1 London £700
2 Oxford £578
3 Surrey £562
4 Cambridge £543
5 Reading £511
6 Aberdeen £494
7 Edinburgh £450
8 Bournemouth £442
9 York £403
10 Southampton £398

Top ten least expensive places to rent in the UK

Position

Area

Rent per month for a double bedroom

1 Belfast £283
2 Bradford £322
3 Sunderland £326
4 Swansea £327
5 Bolton £329
6 Stoke-on-Trent £332
7 Preston £340
8 Leicester £342
9 Cardiff £345
10 Leeds £355

It may seem that landlords would receive the highest returns in the areas on the top list, but remember; property prices are usually more expensive in these places too, so always work out your potential yield by dividing the annual rent received by the price you paid for the property. This will calculate how much you will make over the year. And wherever you buy an investment property, it is always wise to have rent guarantee insurance in place, in case your tenants default on rent payments.