The Dorset town of Poole has beaten one of the world’s most cosmopolitan cities to be named the UK’s most expensive place to rent accommodation, while Newport in South Wales was found to offer the cheapest rentals in the country.
The research was carried out by Easyroommate.co.uk who used 15,000 room adverts and data from the Office of National Statistics to collate the results. The internet room rental company found that the typical room rent per calendar month in the UK stood at £365, with tenants spending 21.9% of an average monthly wage of £1,665 on their accommodation.
However in Poole, the average monthly rental cost for a room stands at £398 which works out as 26.8% of monthly take home salaries which is higher than the 26.2% paid out of monthly wages by renters in London.
Although the typical PCM cost of renting accommodation in London stands at £520, the price represents a lesser percentage of the average wage compared to Poole, which is why it came in second place rather than first for the most expensive area in the UK to rent.
The most affordable places to rent, according to the monthly rent versus monthly take home wage percentage research, were Newport followed by Hull, Huddersfield, Leeds and Bolton, while Poole, London, Norwich, Blackpool, Gloucester, West Bromwich and Oxford were revealed as the most expensive locations in which to rent a room.