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Oxford is one of the UK's most expensive places to rent
11:00am Wednesday 22nd August 2012 in News
OXFORD has been named the seventh most expensive town or city for renters in the UK.
According to figures released last night the average rent in the city is £891 a month — £185 more than the average monthly rental price for the rest of the country.
A report by specialist letting agents’ insurer Endsleigh showed that the average monthly rent across the UK in 2011 rose for the third year running to £706, compared with £688 in 2010 and £663 in 2009.
Oxford comes behind London, Watford, Guildford, Slough, Bath and Brighton, and ahead of Bournemouth, Reading and Redhill.
The ten cheapest places for rent are all located in the north of England and Scotland, apart from Swansea, which has the lowest average rent in the UK at £399 per month, almost half of the national average. Tenants across the Midlands also pay less than the national average, with an average monthly rent of £555.
Grant Stevens, general manager of Letting Services at Endsleigh, said: “Nationally, year-on-year, the picture is one of a very buoyant rental market and, with the overall rise in keeping with inflation, it won’t unduly affect the pockets of either Oxford’s landlords, who are enjoying good yields, or renters, who are able to access a whole range of properties.
“The bigger threat to landlords’ income increasingly comes from repairing damage to property that frequently costs more than the tenant’s deposit.”