Renters have had a difficult time in the last few years. They've paid ever-higher rents as they competed for a decreasing number of homes.
According to Zoopla, the average rent for a property is now £1,270 per month. Renters are paying 34% more than four years ago.
Zoopla reported that the average rent rose by 3.5 percent between September 2016 and September 2020, and then 34.1 percent between September 2020 to 2024.
Rents in some cities have increased by 40% or more in the last four years, which is a rate of over 10% per year.
According to Zoopla, Glasgow rents have risen by 44.4% on average, more than any other UK City. A home in the Scottish city is cheaper than the UK's average rent, at £989 per month.
Edinburgh has also seen a big increase in rental prices. The average home in the Scottish Capital rose by 41.3 percent to £1,349 per month. Dundee, which is not far behind with rents up 39.4 percent to £803 per month, is also experiencing a rise in rental prices.
Rents in some English cities have also skyrocketed. Rents in Bradford have risen 42.8 per cent in the last four years. Rents in Bradford only grew by 4 per cent between 2016 and 2020.
Manchester's average rents have risen by 41 percent in the last four years. The average Manchester property now rents for £1,122 per month.
Rents in Bristol, Stoke-on-Trent, and Cardiff have also risen by 38 per cent.
Rents in Sunderland have increased by 27.1%, while in Leeds, rents are 27.2% higher than they were four years ago.
The average rent in Oxford has increased by 28 per cent in the last four years. In Brighton, the typical rental property is renting for £1,629 per month, which is 28,5 per cent higher than in September 2020.