How much does renting cost near you? Use our interactive tool to find out as rents climb 9% in a year

Average private rent costs rose by 9 per cent in the year to February, new figures from the Office for National Statistics reveal.

At £1,238 per month on average across Britain, the acceleration in average monthly costs is the highest since ONS records began in 2015.

Renters are paying on average £102 more per month than a year ago.

During this period, average monthly rents rose to £1,276 per month in England, £723 in Wales and £944 in Scotland. In Northern Ireland, average monthly rental costs increased by 9.3 percent.

Renters in London saw the biggest rise, with rental costs rising 10.6 per cent to an average of £2,035.

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The average private rent was highest in Kensington and Chelsea in London, at £3,248 per month.

Last month, the lowest average monthly rental cost could be found in the North East of England.

In the North East, annual rent inflation reached 5.7 per cent in February, with tenants paying around £658 a month.

Excluding London, the local area with the highest average private rental cost in February was Bristol, at £1,734 per month.

The 9 per cent increase in UK rental costs exceeded the 8.5 per cent rise seen in the year to January, according to the ONS.

He said: “The rise in annual inflation between late 2021 and mid-2023, followed by a slight decrease in annual inflation, is likely to reflect recent changes in annual inflation for new rentals ( which are not subject to the price cap).”

As rental costs increase, average property prices decrease slightly on an annual basis. The ONS said average house prices in the UK fell 0.6 per cent in the year to January, to £282,000.

During this period, the average private rent in the UK was highest for detached properties, at £1,438, and lowest for apartments and duplexes, at £1,201 per month.

Houses with four or more bedrooms had an average monthly cost of £1,901, while properties with one bedroom came close to the £987 mark.

Ben Twomey, chief executive of Generation Rent, said: “These figures are shocking but not surprising: we have been feeling the impact of sky-high rents and unaffordable rent increases since 2021 and we have reached the extreme limit of what we can allow us. .

“While the cost of living crisis appears to be easing, the rental cost crisis continues apace.

“Tenants are being pushed to their absolute limits and something has to give.

“A nine percent increase in one year across all tenancies is well above the rate of increase in our wages, illustrating how poorly protected tenants are.

“This is not just due to rising costs for landlords – more than half of privately rented homes come with no mortgage – so it is clear that landlords are raising the rent simply because their tenants have no choice but to pay these prices.”