Money blog: UK's cheapest city for renters revealed; interest rate decision imminent

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Money blog: UK's cheapest city for renters revealed; interest rate decision imminent
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The Money blog is your place for personal finance and consumer news. After inflation remained unchanged last month, the Bank of England is meeting to decide whether to cut interest rates - with the announcement coming at midday. Leave a comment in the box below.

The cheapest and most expensive cities for renters have been revealed in new analysis. Property website Rightmove analysed advertised rents in more than 50 cities across the UK, and found the highest average rent is being asked in St Albans is £2,307 a month. This is 71% above the average. Oxford was next on the list, with advertised rents averaging £2,237 a month, while Cambridge was placed third, with renters typically facing paying £2,072 a month.

Carlisle in Cumbria was found to be the most affordable city to rent in the study, with average advertised rents at £791 a month, 41% below the national average. It is narrowly followed by Hull, at £804 on average. The national average advertised rent outside London is a record £1,349 per calendar month, Rightmove said.

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