Christmas is predicted to be a struggle for many tenants this year. Along with the rest of the nation, they’re dealing with a cost of living crisis, driven by rising energy prices. However, for those who rent, this financial pressure is also compounded by the rising price of rent.
The latest insight into the UK rental market from Ocasa, reveals that tenants in London have endured bigger rent price increases than anywhere else in the UK since last Christmas.
Across the UK, the average rent price has increased by 10.8% since last Christmas, rising from £1,060 per month at the end of 2021 to £1,175.