"With rents reaching yet another record high across the UK, it’s clear that the rental crisis isn’t loosening its grip any time soon"
- Matt Hutchinson - SpareRoom
According to the latest figures from SpareRoom, room rents rose by 16% year on year from Q3 2022, with the average UK monthly room rent reaching £721 – a new record for the rental crisis.
London remains the most expensive place to rent, with average room rents reaching new highs of £989 in Q3 2023, and there is now not a single postcode with an average monthly room rent under £750.
Outside the capital, the most expensive place to rent in Q3 2023 was Edinburgh, with average monthly room rents of £896 – beating the London suburbs of Kingston Upon Thames (£890), Twickenham (£874) and Barnet (£842) for the first time. Conversely, the cheapest areas to rent in the UK were South Shields (£442), Burnley (£446) and Barnsley (£456).
|Most expensive||Least expensive|
|Town/City||Average monthly room rent Q3 2023||Town/City||Average monthly room rent Q3 2023|
|Kingston upon Thames||£890||Burnley||£446|
Matt Hutchinson, SpareRoom director, comments: “With rents reaching yet another record high across the UK, it’s clear that the rental crisis isn’t loosening its grip any time soon.
Sharp rises in areas that have historically been deemed more ‘affordable’, due to increased demand as renters seek cheaper housing, mean the supply of affordable accommodation is shrinking even further.
Unless the government takes urgent action the rental crisis will spiral out of control. There needs to be a real commitment to act fast to ease the burden on renters and make housing genuinely affordable.”