The average monthly rent across the UK has climbed to a new record high of £969, new figures published by Zoopla have revealed.

Zoopla’s latest UK Rental Market Report indicated that this figure is £62 higher per month than at the start of the pandemic.

This comes as average UK rents jumped 3.7% in Q4 2021 to take the annual rate of rental growth across the UK to 8.3%. Zoopla suggested this growth was underpinned by a continued rise in rental demand, particularly in city centres, amid a “chronic shortage of supply”.

London rents are up by 10.3% on the year, although the Zoopla highlighted that large falls in 2021 mean average rents are up just £18 a month since the start of the pandemic in March 2020, currently sitting at £1,640. Rents have risen in every other region and country in the UK, with growth ranging from 4.8% in Scotland to 10.2 % in Northern Ireland.

Zoopla warned that any rises in rents will be felt most keenly by those on lower incomes who have less choice in the market, and added that with demand continuing to outstrip supply, there will be continued upwards pressure on rents.

“Rental demand has risen strongly amid increased activity in city centres, but supply is still constrained, leading to the fastest growth in rents in Q4 than at any time over the last 13 years,” said Zoopla head of research, Gráinne Gilmore.

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