Buying or renting a house in Britain has become significantly expensive with private renting costs going up by 7.7 percent in the year to March 2025, revealed the latest figures from the Office for National Statistics (ONS). As per the data, the average monthly rent in the UK has been observed as £1,332.
The high rents have raised concerns among the more than half of tenants planning to move this year, especially those relying on last-minute rentals. An analysis conducted by the experts Alan Boswell Group found that Coventry offers the biggest savings for immediate rentals.
The data suggested that the combined 1, 2, and 3-bedroom rents in Coventry have dropped by 16.67 percent, making it the best city for last-minute movers.
Experts explained: “The drop from £1,050 for anytime rentals to £875 for immediate availability rentals suggests that landlords are adjusting prices to quickly fill vacancies.
“The steepest decrease is seen in house shares, where immediate rental prices have plummeted by 52.3 percent, making this the most affordable rental option in Coventry.”
The city is a popular tourist hotspot and is known for the medieval Coventry Cathedral, which was left in ruins after a World War II bombing.
Taking the second spot is Bradford, witnessing a 9.68 percent decrease in immediate rental prices. The rent prices fell from £775 for anytime rentals to £700 for immediate rentals.
The experts explained: “This price drop likely reflects the city’s strategy to attract tenants in a competitive market, especially after being named the UK’s least accessible rental market last year.
“Interestingly, while the price for 1 bedroom properties saw a modest increase of 2.1 percent, rents for 3 bedroom properties declined by 4.5 percent. House shares in Bradford have remained the most affordable, with rents remaining unchanged at £470.”