UK Rent Reaches Record High Amidst Housing Supply Crisis
Rents across the UK continue to hit record highs, with significant increases particularly in London, where prices rose 12.1% year-over-year. This spike is largely driven by an ongoing shortage of rental properties, especially affecting young professionals who are increasingly priced out of the city.
The average rent in the UK climbed to £1,300 monthly, but it’s even higher in London, pushing many to seek housing outside the capital. Experts predict that rental prices will keep climbing as demand outpaces available housing.