Rents reach highest recorded figure – Office for National Statistics
Rents reach highest recorded figure – Office for National Statistics
Figures from the Office for National Statistics (ONS) show that the median figure for private rented sector rents in
England reached a record high of £700 a month as the UK headed into lockdown.
The ONS notes that this figure ‘has not been higher’.
The highest median rent of £1,425 a month was in London and the lowest in the north-east of England at £495.
Westminster is the mopst expensive location in the country with a median of £2,492 per month – five times the average rent in Hull where the average is just £420 a month.
The ONS data covers a period from April 1st 2019 to 31st March 2020.
With 8.5 million people renting, and spending on average 41% of their incomes on housing costs, the statistics are bound to fuel speculation about tenants’ renting affordability.
