Research has shown that in Nottingham, Leeds and Bristol, rent prices have increased at the fastest pace over the past year, with Aberdeen posting the largest drop.

According to a survey published on property website Zoopla, tenants moving to Nottingham over the summer months in 2019 paid 5.4% more in rent compared to the same period the previous year. 

In Leeds and Bristol, rent prices also rose at a higher rate (4.5%) compared to the average growth in other UK cities. 

Zoopla said that overall, renting a home in Britain has become more affordable, partly due to the fact that more home-seekers are looking to purchase their own residence, placing significant pressure on the rental market. 

In Aberdeen on the other hand, tenants saw rents drop by 4.1% during the period stretching July-September year-on-year, as economic growth in the area remains deeply impacted by the oil industry. Rental prices also fell in Coventry and Middlesbrough, Zoopla’s quarterly rental report revealed.

According to a separate survey by the government, the Family Resources Survey, almost three-quarters of 16 to 24-year olds and nearly half of those aged between 25 and 34 rent from a private landlord. 

The rental sector is largely concentrated in London, with roughly a third of all rental properties found in the UK capital. 

Rental prices across the UK increased by an average of 2% in 2018, roughly half the traditional level of wage growth. 
Zoopla’s Richard Donnell said: “Renting is more affordable today than the 10-year average. [An increase in] first-time buyers, 80% of whom exit the private renting sector to buy, has also moderated rental demand.

“Rental affordability varies widely across the country, reflecting the relative strength of local economies.”
Zoopla bases its data on figures from other listings and research. 

Homes across Britain take an average of 17 days to rent, based on the time being listed to when they are removed. This is down from a year ago, when residential properties took 19 days to rent, and much shorter than the time it takes to sell a home.