Rents in the final quarter of 2022 reached an all-time high yet again as housing supply continues to dwindle, with little sign of things changing anytime soon.
The latest data from SpareRoom reveals UK rents increased by 13%, comparing Q4 2022 with Q4 2021. As of December 2022, the average UK room rent was £731 per calendar month (pcm).
The average cost to rent a room in Greater London went over £900pcm for the first time ever in September 2022 and has continued to increase, with the average rent in December at £949pcm.