Rent rises slowest in East Yorkshire

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Published: Friday 24th April 2015 by The News Editor

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Housing rental costs continue to increase across Britain – but Yorkshire and Humber is seeing the slowest rate.

Figures released by the Office for National Statistics (ONS) show the price rise in the region between March 2014 and last month was 0.4% – compared to the UK average of 2.1%, and the sharpest rise of 3.2% in London.

The North East was the other region to experience such minimal growth.

Tenants living in England and Scotland generally experienced rises on a similar basis, but rental costs in Wales slowed a little.

Matt Hutchinson is the director of the SpareRoom.co.uk website that advertises house and flat share opportunities. He says rents are rising because there isn’t enough housing available where there are lots of jobs on offer.

Mr Hutchinson says there are 13 people interested in every room his website offers at peak times.

The ONS also reveals that property prices (up 7.2%) are increasing faster than rental prices – that are up 2.1% in England and Scotland and 0.8% in Wales.

Copyright Press Association 2015

Published: Friday 24th April 2015 by The News Editor

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