Our region has seen some of the biggest rent price hikes across the country
Rent costs have risen by nine percent across the country over the last year, with some areas experiencing much bigger price hikes than others. It now costs £1,238 a month on average to rent a private home in Great Britain, according to the latest data from the government’s Housing Market Indices Team.
Greater Manchester has seen some of the biggest rent hikes in the UK, with three of its boroughs having experienced larger increases than in Manchester. Rent prices in Oldham, Rochdale and Salford are soaring, having gone up by more than 12 percent in the last year.Rents in Oldham have increased by 13.6 percent over the last 12 months, rising from £667 in February 2023 to £758 today. Only four other local authorities in Great Britain have seen larger percentage increases.
Across the rest of the UK, rent prices are up by as much as 20 percent in some areas. The London borough of Brent has seen the largest annual increase in average private rent.
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