Tenants need £683 a month to rent a ROOM on average says SpareRoom

Tenants face an eye-watering average price of £683 per month to rent a room alone, with Londoners typically paying the most at £952 per month.

New data from home-sharing website SpareRoom showed that room rents have risen by 10 per cent or more in every region in Britain.

At £952, the average room rent in London has seen its biggest percentage increase, up 20 per cent in a year.

It compares to a national average of £683 a month to rent a room, which is an increase of 15 per cent in a year.

The most expensive regions in Britain to rent a room in have been revealed, with London topping the list

AVERAGE ROOM RENT IN UK FOR Q1 2023 BY REGION
Region Average room rent per month Q1 2023 Average room rent per month Q1 2022 Annual change Q1 2023 vs Q1 2022
East Anglia £608 £540 13%
East Midlands £525 £462 14%
Northeast £506 £435 16%
North West £543 £466 16%
Northern Ireland £484 £430 12%
Scotland £613 £536 14%
Southeast £675 £586 15%
South West £610 £542 13%
Wales £527 £463 14%
West Midlands £508 £452 12%
Yorkshire and Humberside £520 £459 13%
London £952 £794 20%
UK £683 £595 15%
UK (excluding London) £598 £524 14%
Source: SpareRoom

The London postcodes with the biggest increases in the cost of renting a room over the past year are WC, NW and E. They are up 21 per cent to £1,250, £965 and £926 respectively.

And for the first time, there is not a single London postcode with an average monthly rent of less than £700.

Even traditionally cheaper areas such as Abbey Wood – with postcode SE2 – are becoming more expensive.

SpareRoom suggested that this is partly due to the relative affordability of such areas, as well as better transport links, including the Elizabeth Line.

The most expensive rooms to rent are found in London, at an average of £952 per month (Photo: Southall)

THE MOST AND LEAST EXPENSIVE CITIES AND CITIES (OUT OF CENTRAL LONDON)
Most expensive Least expensive
City/City Average room rent per month Q1 2023 City/City Average room rent per month Q1 2023
South Valley £810 Burnley £431
barnet £809 Stoke on Trent £439
Twickenham £801 Bradford £439
Kingston upon Thames £793 Scunthorpe £440
Croydon £777 Barnsley £448
eg £766 Huddersfield £450
Ilford £764 Carlisle £450
Enfield £760 Grimsby £450
Bromley £750 Darlington £453
Watford £739 Crewe £454
Source: SpareRoom (based on room rents in Q1 2023)

The number of postcodes in London where the average room rent is over £1,000 a month has more than quadrupled in the past year.

There are now over 30 postcode regions where the average is £1,000 or more, and Chelsea passed the £1,500 mark for the first time.

Meanwhile, the average price to rent a room in Britain has risen 15 percent in the first three months of this year, compared to the same period in 2022.

The North East and North West regions saw the largest annual rent increases after London, both at 16 per cent compared to Q1 2023 with the same period a year earlier.

Pictured: London’s Kingston-upon Thames is one of the most expensive places to rent a room, averaging £793 a month

Matt Hutchinson, from SpareRoom, said: “While demand for rooms has fallen since record highs in late 2022, it is still above pre-pandemic levels.

“Combined with higher interest rates and a higher cost of living, rents continue to rise.”

He added: “Demand is likely to fall slightly over the course of the year, but unless something is done to halt the continued decline in rental supply, things are unlikely to improve much for tenants.”

AVERAGE ROOM RENT IN LONDON FOR Q1 2023 BY REGION
London regions Average room rent per month Q1 2023 Average room rent per month Q1 2022 Annual change Q1 2023 vs Q1 2022
E £926 £767 21%
EC £1,199 £1,023 17%
N £897 £751 20%
NW £965 £800 21%
SE £896 £754 19%
SW £998 £832 20%
W £1,014 £863 18%
WC £1,250 £1,033 21%
London £952 £794 20%
UK £683 £595 15%
UK (excluding London) £598 £524 14%
Source: SpareRoom

Pictured: Raynes Park is one of the London postcodes where room rents have risen the fastest over the past 12 months

TOP 10 ZIP CODES WHERE ROOM RENTAL RISE FASTEST IN 12 MONTHS
Postcodes London Average room rent per month Q1 2023 Average room rent per month Q1 2022 Annual change Q1 2023 vs Q1 2022
SE2 (abbey forest) £751 £567 33%
SW8 (South Lambeth) £1,060 £801 32%
W7 (Hanwell) £841 £640 32%
NW5 (Kent town) £1,028 £784 31%
NW11 (Golders green) £975 £751 30%
SE17 (Waalworth) £986 £772 28%
NW6 (Kilburn) £1,031 £809 27%
NW1 (Camden) £1,224 £966 27%
N7 (cavity) £1,012 £800 26%
SW20 (South and West Wimbledon/Raynes Park) £899 £711 26%
Source: SpareRoom

It comes as HomeLet revealed that the average rent in Britain was £1,184 in March, up 0.8 per cent from the previous month.

However, excluding London, the average rent in Britain is £993 per month, an increase of 1 per cent in a month.

Andy Halstead, of HomeLet & Let Alliance, said: ‘With every region of the country reporting month-on-month rent increases, it’s fair to say that demand for rental properties remains exceptionally high.

It has been interesting to see a few months of price declines in London, but the capital seems to have recovered from a slight dip, in line with increases across the country.

“The lack of available housing means the market is likely to remain very competitive, so landlords must remain vigilant and tenants must be aware that finding suitable premises is proving to be a difficult task for many.”

Pictured: Croydon is one of the most expensive places outside central London to rent a room, averaging £777 a month

AVERAGE ROOM RENT FOR THE 50 LARGEST CITIES IN THE UK
City/City Average room rent per month Q1 2023 Average room rent per month Q1 2022 Annual change Q1 2023 vs Q1 2022
Aberdeen £484 £425 14%
Belfast £522 £452 15%
Birmingham £483 £429 13%
Blackpool £474 £424 12%
Bolton £482 £425 13%
Bournemouth £626 £533 18%
Bradford £439 £384 14%
Brighton £697 £632 10%
Bristol £676 £618 9%
Cambridge £729 £639 14%
Cardiff £576 £505 14%
Coventry £520 £464 12%
Derby £528 £450 17%
Dundee £571 £453 26%
Edinburgh £706 £612 15%
Glasgow £646 £553 17%
Gloucester £553 £466 19%
Huddersfield £450 £404 11%
Hull £468 £409 14%
Ipswich £539 £480 12%
To lead £548 £484 13%
Leicester £518 £460 12%
Liverpool £491 £415 18%
London £952 £794 20%
Luton £557 £498 12%
Manchester £637 £533 20%
Middelburg £472 £390 21%
Milton Keynes £620 £552 12%
Newcastle upon Tyne £522 £453 15%
Northampton £557 £494 13%
Norwich £550 £485 13%
Nottingham £568 £508 12%
Oxford £734 £658 12%
Peterborough £570 £492 16%
Plymouth £529 £462 14%
Poole £620 £554 12%
Portsmouth £564 £517 9%
Reading £670 £579 16%
Sheffield £484 £431 12%
Slap £668 £569 17%
Southampton £583 £516 13%
Southend on Sea £596 £552 8%
Stoke on Trent £439 £406 8%
Sunderland £517 £406 27%
Swansea £517 £455 14%
Swindon £582 £533 9%
telford £473 £422 12%
Warrington £540 £444 21%
Wolverhampton £493 £406 21%
York £644 £549 17%
Source: Rightmove
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