The average monthly rent in Britain is now £1,006 - the first time it has ever hit four figures.
The claim, from mortgage lender Move with Us, says that sustained growth in London (where rents are north of £2,300 pcm) and the south east (with rents over £1,200) have tipped the national figure over the psychologically-important £1,000 mark.
"This is still a tale of two markets however" admits Move with Us director Robin King, whose figures show just how the regions vary - rents in a lot of northern England actually fell in the past year, although Scotland by contrast stormed away.
East Anglia: £906 (+ 2.66% in the past year year)
East Midlands: £635 (+ 1.90%)
Greater London: £2,302 (+ 4.68%)
North East: £639 (- 5.77%)
North West: £621 (-2.12%)
Scotland: £726 (+ 7.50%)
South East: £1,207 (+ 6.87%)
South West: £817 (+ 3.13%)
Wales: £668 (+ 5.74%)
West Midlands: £688 (+ 5.56%)
Comments
Entirely possible student figures are also driving the average up; a lot of student houses going for almost triple the regular value in our area- an average 2 bed terrace for 600 becomes a 4 bed student house for 1600 very quickly unfortunately.
Figures like this give many regular landlords an unrealistic expectation, considering rents have actually remained fairly static over the last year for us.
London and the South East slightly skew the average, though. Once you look past the scary headline, you see that only in Greater London and the South East would you be paying rents of over 1,000. Until it becomes easier to get a foot on the ladder, a great many people will have to continue to rent. Demand is still outstripping supply, which is why prices have gone up in the majority of areas.
I simply do not believe Move With Us. I am in SE and I know the rental mkt very well. Family home rents are same as few years ago or lower. 2 bedders are down in much of London. Facts.