Rental home prices hit record high in UK

According to British property site Rightmove, median rents continued to hit new highs as the country continued to suffer from housing shortages.

According to the BBC report, Rightmove said rent requests outside of London hit a record high with an average of £1,190 (TL28,860) per month, with average rents rising for 13 consecutive quarters. In London, the average rent has exceeded 2,500 pounds (60,630 TL).

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According to Rightmove, rental prices have risen due to fierce competition among tenants trying to rent houses on a limited supply. On the other hand, the number of properties that can be rented between January and March increased by 8 percent compared to the previous year, almost half of what was seen in 2019.

Rightmove said the gap between the number of renters looking for property and available houses to rent has also narrowed, but still remains “close to record levels.”

Figures shared by property site Zoopla last month showed the number of homes available to rent in the UK fell by a third in the past 18 months.