Zoopla has published the figures
It doesn't take a property expert to realise that rental prices for homes across the city and county are on the rise. However, just how much they are rising and how much it now costs to rent a home in Nottingham and the surrounding county is another question.
This gloomy picture was highlighted in the firm's Rental Market Report, published at the end of last year. And the picture for the start of 2023 doesn't look much cheerier, as the analysis suggests rents show no sign of slowing. More locally, in the East Midlands, the average rent for new lets increased by 10%, just below the national average, and in the same year-long period reached £774 per calendar month. This accounts for 28.1% of the average income of a single earner.
Richard Donnell, executive director at Zoopla said: “Renters are paying the price for low levels of new investment in private rented housing over the last six years. A chronic lack of supply is behind the rapid growth in rents which are increasingly unaffordable for the nation’s renters, especially single-person households and those on low incomes. Many are also staying put to avoid the worst of rent increases.
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