In a stark revelation of the rental affordability crisis, the latest figures from SpareRoom indicate that room rents in the UK have climbed to an all-time high. According to the leading flatshare website, there was a 16% surge in rents from the third quarter of the previous year, setting the current average monthly room rent at £721, a record indicative of the deepening rental crisis.

In the midst of this landscape, London stands out as the priciest city for renters, with the average room rent reaching a staggering £989 in the third quarter of 2023. The capital’s rental market has tightened to the point where not one postcode offers a room for under £750 per month.

The data compiled by SpareRoom paints a contrasting picture across the UK, pinpointing the most and least affordable regions for renters. Edinburgh emerged as the second most expensive city, overtaking London suburbs like Kingston Upon Thames, Twickenham, and Barnet, with room rents averaging at £896 monthly.

On the other end of the spectrum, South Shields, Burnley, and Barnsley were listed as the most budget-friendly locations, with average rents of £442, £446, and £456 respectively.

SpareRoom director Matt Hutchinson expressed grave concerns, stating, “With rents reaching yet another record high across the UK, it’s clear that the rental crisis isn’t loosening its grip any time soon.”

He further noted the shift in affordability dynamics, as traditionally cheaper areas have witnessed a spike in rents due to increased demand from renters in search of more economical options. This has led to a further narrowing of affordable housing options.

Highlighting the need for governmental intervention, Hutchinson warned, “Unless the government takes urgent action the rental crisis will spiral out of control.” He called for immediate and decisive action to alleviate the strains faced by renters and to make housing truly affordable, signaling an imperative need for policy response to the escalating crisis.