Top 10 Most Expensive Places to Rent in the UK

Looking to find out where the most expensive places to rent an apartment in the UK are? Property giants Zoopla recently released their rental market report. The results show us exactly how the rental landscape is changing year on year. 

The report gives us a glimpse at how inflation is impacting rent across the UK. With a clear focus on how some areas are facing bigger increases than others as interest rates soar. 

The UK rental report - which you can view here - shows that there has been a huge 9.1% increase in rent across the UK. This excludes London, which had an even bigger annual increase of 15.7%. Renters are now looking at having to spend around 37% of their monthly salary on rent alone. 

Why Do Certain Areas Have Higher Rent?

Before diving into the list, it’s important to understand why certain areas command higher rent. Factors include:

• Proximity to major cities and employment hubs: Areas close to London or other major cities like Manchester or Edinburgh often have higher rents due to demand from professionals.
• Quality of life: Cities with excellent amenities, schools, and healthcare services tend to attract families, driving up rent prices.
• Transport links: Locations with good public transport connections are more desirable, leading to higher rental costs.
• Cultural and social attractions: Cities with a vibrant cultural scene, nightlife, and dining options are popular among younger renters.

Table: Top 15 Most Expensive Places to Rent in the UK (2024)

The South-West, represented by cities like Bristol, continues to see rising rental prices, driven by its cultural appeal and robust transport links. Edinburgh and Glasgow represent Scotland on this list, showcasing their increasing popularity due to their rich cultural heritage and economic opportunities. Meanwhile, cities like Manchester and Birmingham remain attractive due to their strong job markets and vibrant social scenes, keeping them among the top rental markets in the UK. As demand continues to outstrip supply in these areas, rental prices are expected to maintain their upward trend, although the rate of increase has begun to show signs of slowing

1. London

With plenty of jobs, culture, history and more, London has everything you need. It's also why the demand for rental property is so high. With a lack of social housing, demand for properties in the capital has skyrocketed. 

2. Cambridge

Cambridge, given its proximity to London, has also felt the impact of these increases. Cambridge is regularly listed among the best commuting towns for workers in London. Its idyllic countryside and 51 minute train ride into London make it the ideal place to live. 

3. Brighton

Another South-West based city, Brighton is a stunning seaside location. It has direct links to London, making it the closest coastal city to the capital. It offers commuters the chance to live in a more relaxed and slower-paced environment. 

4. Oxford

Oxfords’ iconic architecture is a sight to behold. This South Western city is often used as a filming location for TV and films. It's also a relaxed and easy-going place to live. 

Filled with independent stores and easy access to beautiful countryside. Oxford is another area that offers idyllic living with great links to the capital.
 

5. Bristol

The first location in the top 15 most expensive places to live in the UK outside of the South-West. Bristol is based in the South-West of England and is a hub of art and culture. 

Bristol is one of the best places in the UK for transport. With direct links to some of the biggest cities in the UK. These include London, Manchester, Birmingham and Cardiff. 

 

6. EDINBURGH

A stunning city and capital of Scotland. Edinburgh perfectly blends the old and the new. With classic and historical architecture, and rural landscapes surrounding the city centre. You're never too far away from the quieter life of the countryside. 

In regards to Edinburgh's rental price increase, Steven Coyle from Cullen Property said: 

"Uncertainty regarding COVID caused most tenants to just stay put, especially if working from home. We expect this trend to continue well into 2022, exacerbated further with a possible high retention rate in the student market in spring, with tenants reluctant to let good flats go."
 

7. Reading

Another South-East city, Reading, sits around 1hr 30 mins drive from London. It also boasts 25-minute train journeys into the capital, again perfect for commuting.

Reading is one of the ideal places for London workers to live more affordably than in the capital. 
 

8. Manchester

One of the UK’s capitals of science and Industry, Manchester is the first city on the list situated in the North. The city is often cited as the capital of science and industry. It boasts excellent job prospects, vibrant culture and a thriving social scene. 

From Manchester's Piccadilly station, you can catch a train to pretty much anywhere in the UK. It's a modern and cosmopolitan city popular with students. It has one of the highest graduate retention rates, around 51.5% of students decide to stay in Manchester.

9. Milton Keynes

Again, Milton Keynes boasts excellent transport links to London. Making it another popular destination for commuters. Filled with leisure and amenities it boasts some of the nation's best green spaces.   

10. Bournemouth

Bournemouth sits on the Dorset coast, adorned with golden sandy beaches. It has a mix of big brand shops and independent stores, award-winning gardens and more. 

Bournemouth is also home to the Jurassic Coast, a world heritage site. Amongst many other amazing places of interest, including the New Forest National Park. 

What Drives High Rental Costs?

• Demand from Students and Professionals: Cities with top universities or industries attract students and professionals, increasing demand for rental properties.
• Limited Housing Supply: In popular areas, limited availability of housing drives up rent prices as people compete for a place to live.
• High Quality of Life: Cities offering a mix of cultural activities, good schools, healthcare, and green spaces are more desirable and thus more expensive.

Future Predictions for Rental Prices

As we look towards the future, rental prices in these cities are expected to continue rising due to the ongoing demand for quality housing. Factors such as economic growth, infrastructure development, and international interest will likely keep these cities at the top of the list. Keeping an eye on local property markets and understanding the trends can help renters and investors make informed decisions.

Tips for Renters in Expensive Cities

• Consider Suburban Areas: Living slightly outside the city centre can offer more affordable rents while still being close to amenities and transport links.
• Flat Sharing: Sharing a property with others can significantly reduce the cost of rent and utilities.
• Negotiate Rent: Depending on the demand, some landlords may be open to negotiation, especially for long-term leases.

The Most Expensive Places To Rent in The UK

All 15 of the UK's most expensive places to rent have a lot to offer, but supply and demand remain an issue. Many of these cities say the demand for rental properties is the cause of increasing prices. 

Private rentals are affected by inflation and too little social housing is being built. More renters than ever are looking for affordable and easy rental solutions. If you're looking for somewhere to live in or near London, explore our apartments to rent.

Conclusion

Renting in the UK's most expensive cities comes with a premium, but it often reflects the quality of life, opportunities, and amenities these areas offer. Whether you’re a student, professional, or investor, understanding the rental market can help you make the best choices for your lifestyle and financial goals.