Huge spike in Coventry rent costs revealed in new statistics
Posted: Fri Nov 18, 2016 6:35 pmRugby also recorded the tenth biggest rent rise in the whole of the UK
Rent in Coventry has gone up by an average of more than £500 a year according to new government statistics.
The average private rent in Coventry went up to £594 a month in 2015/16.
That’s an increase of £43 - or 7.54% - on the £551 monthly average recorded in 2014/15.
As a result people living in rented accommodation will have to find £516 a year to pay for their homes.
This latest spike in rent prices was revealed in the most recent private rental market summary statistics from the Valuation Office Agency.
In Rugby the average private rent price reached £702 in 2015-16, £73 more than the £629 of 2014-15.
That’s the tenth highest price increase in the whole of England and works out at an extra £876 a year.
In Warwickshire as a whole rent prices climbed by £29, to a monthly total of £739 in 2015-16 combined with £710 the year before.
Overall in England outside of London, rent prices increased by £30 per month from £675 in 2014-15 to £705 from 2015-16.
A breakdown of private rents versus social housing rents would have been useful.
