New research shows the areas with the largest rental hikes over the last 12 months, with one seeing the average increase of just over 30%.

Zero Deposit analysed the latest rental market data looking at the cost of monthly rent across each area of Britain and how this has changed over the last 12 months.

The figures show that, across Britain, the average monthly cost of renting has increased by 8.7% over the last 12 months. On a regional level, London has seen the largest jump at 10.4%, whilst Yorkshire and The Humber has seen the lowest increase at 5.8%.

However, when breaking the market down at local authority level, the research has revealed that some areas of the rental market have seen a far more notable hike in rents in the last year.

Nowhere more so than the London Borough of Brent, where the average cost of renting has climbed by 30.1% over the last 12 months. Across Nuneaton and Bedworth, in the West Midlands, tenants are now paying 16.2% more a month versus just a year ago.

Folkestone and Hythe in the South East has seen a 15.8% jump, while the East Midlands accounts for two of the top five largest rental market increases, with Harborough (+15.7%) and Hinckley and Bosworth (+15.4%) seeing considerable jumps. 

The research also shows that there are no less than another 71  local authorities where rents have climbed by 10% or more in the last 12 months alone.

What’s more, just one area of the market has seen the average cost of renting reduce. Rents across West Lindsey in the East Midlands have fallen by -1.7% over the last 12 months.

A spokesperson says: “Rents have continued to climb over the last year, driven by a far higher level of tenant demand than there are homes to satisfy it and, in some areas, the increase in the monthly cost of renting has been substantial, to say the least.”