Rent in Luton rises 7% in past year

Rent in Luton rises 7% in past year.

According to preliminary ONS data, the average private rent in Luton increased by 7% to £1,190 per month in August from £1,110 the previous year.

It also increased 34% from an anticipated £885 per month five years ago.

Rent officers of the Valuation Office Agency collect prices from a range of sources, including landlords and leasing agents, with the goal of gathering data on around 10% of the market.

Across the East of England, the average rent was £1,245, up 7% from the previous year.

St Albans had the highest monthly rental cost in the region, at £1,878; Great Yarmouth had the lowest, at £781.

The average private rent in the United Kingdom was £1,360 per month in August. While this was £73, or 5.7%, higher than a year ago, the annual growth rate fell from 5.9% in the 12 months to July.

Generation Rent’s CEO, Ben Twomey, stated, “Homes are the bedrock of our life, but rents continue to climb faster than earnings, eating an increasing portion of our income.

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