Average rent in Great Britain up by more than a quarter since start of Covid

Rise due to shortage of properties has been worsened by soaring interest rates, Savills finds

Average private rents in Great Britain have soared by more than a quarter since the start of the Covid pandemic and will keep rising, according to an analysis.

The typical private rent will end this year 9.5% higher than in December 2022 and then rise a further 6% in 2024 before hitting an “affordability ceiling”, according to the estate and lettings agent Savills.