Strong rental growth has eaten into tenant budgets and will lose a bedroom if they pay the same rent they did in 2020, according to Hamptons.
The average two-bed, at £1,068 per calendar month, now costs what the average three-bed cost just 16 months ago, says the estate agent’s July Monthly Lettings Index. While the average one-bed, at £929pcm, now costs what the average two-bed cost 24 months ago.
Previously, it took just over six years, or 74 months, for average rents to rise by an amount equivalent to the cost of a bedroom.
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