New figures from The Deposit Protection Service found that the rent of the average detached home in the UK grew twice as fast as the cost of other properties in the UK.
The average rents for detached properties increased from £1,079 to £1,117 over the third quarter of the year. This rise is £38 or 3.52%.
The average rise for all homes was from £804 to £818 – an increase of £14 or 1.74%.
“Despite the roll-out of the coronavirus vaccination programme and the lifting of lockdowns, it seems that tenants are still prioritising more living space and are willing to pay for it,” said Matt Trevett, the managing director at The DPS.
“They are also staying in detached homes for longer and this, combined with lower availability of these properties, is driving up rents. The last quarter’s rent increases across all property types and most regions suggests a strong return of demand from tenants as employees start to go back into offices and students attend University in person this academic year.”
