28 Jul 2022
The DPS has reported average rents rose £66 from £804 to £870 (8.21%) between Q2 2021 and Q2 2022. The organisation added that four of the largest recorded quarterly rent increases since 2007, including 1.74% in Q3 2021 and 1.96% in Q4 2021, took place during the same period, significantly contributing towards the UK’s rent inflation rate during the past year.
Matt Trevett, Managing Director at The DPS, said: “The last 12 months of rent increases, including a significant acceleration during the last quarter, shows that the price of renting forms a substantial part in rising living costs across the country.
“A mixture of tenants moving back into cities, continued desire for larger rental properties with more space and a current shortage of properties of all types is causing rent prices to rise.
“Despite the current economic environment, many tenants still seem prepared to pay in order to secure a rental property.”
| Quarter | UK average rent | Rent rise % | UK Inflation rate % |
| Q2 2021 | £804 | 0.50% | 2.10% |
| Q3 2021 | £818 | 1.74% | 2.80% |
| Q4 2021 | £834 | 1.96% | 4.65% |
| Q1 2022 | £849 | 1.80% | 6.20% |
| Q2 2022 | £870 | 2.47% | 9.40% |
The DPS said that eight of the UK’s 12 regions experienced rent rises of more than 7% between Q2 2021 and Q2 2022.
The North East, traditionally one of the cheapest places to rent in the UK, saw the highest annual percentage rent increase; rising 10.75% (£57) from £530 to £587 between Q2 2021 and Q2 2022, said the organisation.
The DPS added that the West Midlands saw the second highest annual regional rent percentage increase: 10.70% (£69), taking rents from £645 to £714 during the same period.
London recorded the greatest annual increase in monthly rental values, with rents rising by 9.44% (£124), from £1,314 during Q2 2021 to £1,438 in Q2 2022, it added.
| Region | Average Q2 2022 Rent | Change since Q1 2022 (£) | Change since Q4 2021 (%) | Change since Q2 2021 (%) |
| London | £1,438 | £23 | 4.13% | 9.44% |
| South East | £1,004 | £24 | 4.47% | 7.15% |
| South West | £865 | £32 | 3.72% | 8.53% |
| East | £914 | £20 | 3.51% | 6.28% |
| East Midlands | £662 | £6 | 3.44% | 5.75% |
| West Midlands | £714 | £18 | 4.23% | 10.70% |
| Yorkshire | £592 | £12 | 1.72% | 5.34% |
| North West | £675 | £19 | 4.65% | 7.66% |
| North East | £587 | £22 | 5.96% | 10.75% |
| Scotland | £710 | £35 | 8.07% | 9.23% |
| Wales | £670 | £18 | 4.52% | 7.03% |
| Northern Ireland | £578 | -£3 | 1.23% | 3.58% |
| Property Type | Q2 2022 | Q1 2022 | Q2 2022 vs Q1 2022 (%) | Q2 2022 vs Q4 2021 |
| Flats | £885 | £863 | 2.55% | 4.49% |
| Terraced | £839 | £821 | 2.19% | 3.58% |
| Semi-detached | £943 | £920 | 2.50% | 4.20% |
| Detached | £1,184 | £1,158 | 2.25% | 3.59% |
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