Where is the cheapest place to rent in the UK?

Rents have hit record highs but rate of growth is slowing

UK house to rent
Soaring rents are creating issues for many across the country
(Image credit: Nicholas Free via GettyImages)

A growing number of young people are unable to fly the nest because of soaring rental costs, latest figures show.

Data from Hamptons shows that first-time renters accounted for just 4.6% of new tenancies in Great Britain during the first five months of 2023, down from 6.1% in 2015. Soaring rental costs are a key reason why “around 105k missing renters are relying on the hotel of Mum and Dad”, said Aneisha Beveridge, head of research at Hamptons.

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Marc Shoffman is an NCTJ-qualified award-winning freelance journalist, specialising in business, property and personal finance. He has a BA in multimedia journalism from Bournemouth University and a master’s in financial journalism from City University, London. His career began at FT Business trade publication Financial Adviser, during the 2008 banking crash. In 2013, he moved to MailOnline’s personal finance section This is Money, where he covered topics ranging from mortgages and pensions to investments and even a bit of Bitcoin. Since going freelance in 2016, his work has appeared in MoneyWeek, The Times, The Mail on Sunday and on the i news site.