Average monthly rent hits fresh high

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  • 17/12/2019
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Average monthly rent hits fresh high
The average monthly rent hit £700 in England between October 2018 and September 2019 – a new high for the figure, according to the Office for National Statistics (ONS).

 

Rental prices tended to be higher in the eastern and southern regions of England, compared to those in the Midlands and North.

London was the hottest market, witnessing the highest median monthly rent at £1,450, more than double the median rent for England.

And at £1,700 per month, Inner London rents were £1,000 more than the national average and outshone those in the outer areas of the capital by £400.

At the other end of the scale was the North East with a typical monthly rent of £495.

 

Rent spread

Most regions had a similar spread of rents, but London rents had the greatest range of prices of all regions.

Here the spread between the top and bottom quarter of rents was £658 reaching from £1,192 to £1,850.

This gap was £233 higher than the next largest interquartile range of £425 in the South East.

Once again the North East was at the other end of the scale, with the smallest interquartile range at £175 as rents ranged between £420 and £595, just over a quarter of London’s.

 

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