Bigger populations don’t necessarily mean higher rents
While on the face of it, it should be obvious that the highest average rental cost is found in the nation’s major cities, but new research suggests that it not always the case.
Those with a population above 500,000 people have an average rent of £865 but this ranges from £530 and £1,727, but towns and cities with smaller population sizes have some of the next highest average rents.
The figures from room share platform Ideal Flatmate show that in those with a population of 50,000 to 100,000 the average rent is £732 and it is £807 in towns and cities with a population of between 100,000 and 150,000 and £830 per month for a population between 150,000 and 200,000.
However, in towns with a population of between 200,000 and 250,000 the average rent is just £688 and this then drops again to £670 for towns and cities with a population between 250,000 to 300,000.
The research, which used Government data on rents and population, also shows that towns and cities with a population between 300,000 and 500,000, the average rent is £628 per month.
This means that cities such as Liverpool, Bristol, Cardiff, Coventry and Nottingham offer some of the best value for tenants. Bradford, Birmingham, London, Leeds, Sheffield and Manchester are home to an average rental cost of £865 with rents ranging between £530 and £1,727, the highest of all population brackets.
‘While population size can be a driving factor behind demand for rental properties the data shows that more people doesn’t necessarily mean higher rents,’ said Tom Gatzen, co-founder of Ideal Flatmate.