Rental housing market in the UK: how it has changed in recent years
The rental housing segment in the UK continues to grow. As of 2023, over 20% of the country's population were renting, with this figure being significantly higher in major cities.
The main reasons for rental growth have been the unaffordability of buying a home for young people, the high cost of mortgages and the flexibility of renting. The average rent in London was £2,000 per month, up 12% from a year earlier.
Regional differences in the rental market are also notable. For example, in Manchester rents increased by 9%, while in North East England they remained virtually unchanged. Experts predict further rate rises, especially in areas of high demand.
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