As a northerner living in the south, I’m a nightmare for telling people that ‘everything is cheaper up North’. However, it might be time to adjust the catchphrase, as new research into rising rents has found that when it comes to renting this may no longer not be the case.
The latest data from Rightmove has found that excluding London, cities in the north have seen the largest rent increases in the last year. Out of the top ten places that saw the largest rising rent, northern locations made up the majority of them.
Rising rent in the North
The research, based on the asking rents for two-bedroom properties, found Pudsey in West Yorkshire topped the list for the greatest increase. In July 2018, you could rent a flat for an average of £607 a month, but in 2019 this jumped by 12 per cent to an average asking rent of £680.
This was followed by Pontypridd in Wales which saw the average rent increase by £45 in one year. Bury in Greater Manchester saw the same 9 per cent increase in average asking rents between 2018 and 2019, with rent rising from £578 to 629.
It might come as a surprise that Newcastle Upon Tyne, famous for cheap nights out and bargain lunches from Greggs came in fourth for the largest rent increase. Last year the average rent cost just £644, now it would cost you £701.
Only one place from the South of England made the list – Esher in Surrey. Seeing an 8 per cent increase in average rent from £1,614 in July 2018 to £1,743 in July this year. Esher is also home to the highest asking rents outside of London.
|Rank||Location||Average asking rent in July 2019||Average asking rent in July 18||Per cent change|
|1||Pudsey||£680||£607||12 per cent|
|2||Pontypridd||£550||£505||9 per cent|
|3||Bury||£629||£578||9 per cent|
|4||Newcastle upon Tyne||£701||£644||9 per cent|
|5||Esher||£1,743||£1,614||8 per cent|
|6||Stirling||£707||£658||7 per cent|
|7||Durham||£579||£539||7 per cent|
|8||York||£833||£776||7 per cent|
|9||Rochdale||£535||£499||7 per cent|
|10||Dundee||£611||£570||7 per cent|
Overall rents are at a record high across the UK at £817 per month, up by 2.7 per cent from average rents last year.
‘Various forces have combined to help push rents to a new record,’ says Rightmove’s property expert Miles Shipside. ‘There are fewer landlords, as some have exited the market due to more punitive taxes, while tenant demand has increased due to the lower upfront costs of arranging a new tenancy.’
‘It’s the more northerly locations that have driven this increase – they dominate the top ten hotspots when you exclude the capital’s more rarefied market,’ he adds.
Renting in the North might still be cheaper than in many parts of the South and London, but if they keep increasing at this rate that might not be the case for much longer.