UK rent prices rising at fastest pace in 13 years says Zoopla - but is that the case in Bristol?

A report states that private sector rental in the UK has risen exponentially over the last twelve months, especially in more built-up areas like Bristol.

Zoopla has come out with a statistical report which shows that rent prices in September were 4.8% higher than the year before.

The per month average across the UK is reported to sit at £968 which is the strongest growth seen in 13 years.

Outside of London, the average rate is said to have increased by 6% which is a 14-year high and has jumped by three percent in the last three months alone.

The Office for National Statistics (ONS) has disputed the report with The Index of Private Housing Rental Prices (IPHRP).

The index has a more considerable sample size with over 520,000 rental properties collected across the UK, whilst Zoopla state they have analysed tens of thousands in comparison.

The ONS index shows that overall rental prices in England have increased by only 1.3% in the 12 months leading to September 2021.

Amidst the pandemic last year, Britons fled big cities like Bristol to move away from central locations and to wider and bigger spaces.

Rural areas in the countryside with commuter links were some of the most popular as the number of people working from home continued to increase.

However, the Zoopla report now suggests that the demand for city centre properties is on the up as workers gradually return to offices - a demand that is not matching the availability which is upping the price.

The report states that Bristol has seen a rise in rental bills by over 8% in the last year, following a similar pattern to cities like Nottingham.

According to the University of Bristol, the average rental costs in the city range from £700 per-calendar-month for a one bedroom flat and as much as £1500 for a three-bedroom property.

ONS data has found that whilst the South West region has the biggest increase in private sector rental costs, it is by 2.7% which is lower than what is stated in the Zoopla report.

BristolWorld reached out to Generation Rent, who are a company that work with renters to make sure their voices are heard by landlords, policymakers and politicians.

“This is terrible news for anyone who is trying to move right now,” said Dan Wilson Craw, the company’s Deputy Director.

“We have been hearing from renters who have lost bidding wars for homes, or failed affordability checks, so are being priced out of their areas.

“Since the pandemic private renters are more likely to be getting housing support through the welfare system, but the Chancellor has frozen rates for another year, so these rises will make it even harder to find an affordable home.

“The government has to do much more to bring rents down – that means building more homes, including social housing.”