On 9 February 2022 Zoopla reported that average UK rents are approaching £1,000 pcm – £62 per month more than at the start of the pandemic – as the increase in the cost of living squeezes households. Zoopla has found:

• Average annual UK rental growth has reached a 13 year high, with rents increasing to £969 (+8.3 per cent) in Q4 2021, up £62 per month since the start of the pandemic.
• The average rent now accounts for 37 per cent of gross income for a single earner – up from a pandemic dip of 34 per cent during most of 2021 but broadly in line with the 10-year average of 36 per cent.
• Overall, average rents are up nearly 12 per cent over the last five years.
• Demand for rental properties in January was 76 per cent higher compared to the New Year market between 2018 and 2021.
• The stock of rental properties currently available across the UK is 39 per cent lower than the five-year average around this time of year.
• Inner city London has seen a rental growth of 11 per cent compared to the same time last year – but the decline in rents during the pandemic means this has translated into an increase of just £18 per month in rent compared to March 2020.

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