Most Expensive Home Rental Regions in the UK

| September 4, 2013

Buying a HouseWhere we choose to live is determined by many factors; from the local amenities and provision of schools to the nearby attractions and visual surroundings. To find the perfect place to live requires careful thought and an evaluation of the features we want against the amount we?re willing to pay for it.

Of course, it is here where our biggest challenges are often faced. Whilst the house prices of different regions are often compared, those on the rental market also experience differences in the price they pay depending on where they live.

This article takes a look at some of the most expensive regions in the UK to rent a house or apartment.

Aberdeen

According to data from June 2012, Aberdeen is officially the most expensive city to rent in Scotland. Average costs currently stand at ?849pcm for a two-bedroom home with the city?s West End costing an even higher average figure of ?993pcm.

Yet, these statistics are hardly surprising when you consider the city?s standing as an international base and centre for the oil industry. With plenty of business opportunities, the Granite City is understandably exclusive when it comes to its rental and purchase prices.

London

England?s capital is undoubtedly an expensive place to live but not in every district. The area of Greater London contains numerous districts and plenty of deviation when it comes to average rental prices.

One area which is undeniably at the top of the scale is Kensington whose house prices have increased by as much as 5% since 2011. This puts the average outlay at almost ?2 million for buyers with rental prices averaging at more than ?800pcm according to Foxtons.

For London (and Greater London) in general, average rental costs average at ?1,247.63pcm.

Oxford

With an average rental cost of ?891pcm, Oxford is officially considered the seventh most expensive town to rent property in. Exceeding average rental costs for the rest of the country by more than ?180, Oxford?s history and association with middle class society gives it a superior edge which could account for its high rental figures.

Slough

A small town with a big reputation, this southern area is probably the last place you?d expect to find high rental prices. Yet, according to a recent study by a leading insurer, this town was the fourth highest for rental prices which reached an average figure of ?989.24.

Beating nearby areas such as Reading, Oxford and Brighton, Slough was the fourth entry on the list of expensive rental areas only being beaten by London, Watford and Guildford ? all of which had average rental figures of more than ?1,000.

Protecting your home

Wherever you decide to live, it is important that you obtain adequate protection to safeguard what is often your most important asset.

Whether you buy your property or rent it, you will need to have home insurance in place. These policies not only offer financial protection on the physical structure but also cover any possessions or household contents against damage or theft.

Most Expensive Home Rental Regions in the UK

Category: Finances

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