West Midlands rents rise among highest in UK - here’s how much tenants pay each month on average

The annual rent rise in the West Midlands is among the highest in the country, although levels here are lower than the average outside London, which is now at a record high of £1,316.

The new record across Britain, excluding London, means that advertised rents outside London are on average around seven per cent higher than a year earlier, according to Rightmove's analysis covering the month of May.

Only the Northeast has experienced a bigger rise than the West Midlands, with an 11 per cent rise.

In London, the average advertised rent is £2,652 per month, which is four per cent higher than a year earlier, the website said.

How much is the annual monthly rent rate in the West Midlands?

The average monthly asking price for rent in the region is now £1,180, according to Rightmove.

With the General Election taking place tomorrow, Rightmove said the next government should accelerate housebuilding and incentivise landlords to invest in more homes for tenants, "to improve the supply and demand imbalance in the rental market and stabilise yearly rent growth".

Rightmove said the pace of growth in rental prices has eased from its peak of 12 per cent two years ago but it remains significantly higher than the "more normal" level of around two per cent per year seen before the coronavirus pandemic. The West Midlands has seen a significant rise in prices since the pandemic.

What does the next government need to do to help tenants?

Tim Bannister, a property expert at Rightmove, said: "We've been talking about the imbalance between supply and demand in the rental market for a long time now, so it's easy to forget that there was a time before the pandemic where rental price growth was more stable."

He added: "The next government should be prioritising an improvement to the planning process, an acceleration of house building, and encouraging more supply into the rental market."

Nathan Emerson, CEO of property professionals' body Propertymark, said: "Propertymark has long argued that the private rental sector needs more houses to stabilise rental prices but there are a myriad of other factors that can contribute towards making the market more attractive for both investors and tenants.

"With a General Election coming this week, Propertymark would like to see the next government reform the tax system so that more investors can be persuaded to invest in the private rental sector and lower rents for tenants in the long term.

"Whilst we support a greater supply of houses, there has to be a sensible deliverable programme mindful of protecting the green belt wherever possible."

Here are average advertised rents and the annual increase, according to Rightmove:

- North East, £894, 11 per cent

- West Midlands, £1,180, 10 per cent

- Scotland, £1,067, 9 per cent

- East of England, £1,597, 8 per cent

- North West, £1,146, 8 per cent

- Yorkshire and the Humber, £1,022, 8 per cent

- South West, £1,425, 7 per cent

- East Midlands, £1,150, 7 per cent

- South East, £1,836, 6 per cent

- London, £2,652, 4 per cent

- Wales, £1,065, 4 per cent

And here are the areas of Britain with the biggest imbalances between supply and demand, as indicated by Rightmove's data:

1. Scotland

2. North West

3. South West

4. North East

5. West Midlands

6. Wales

7. Yorkshire and the Humber

8. East of England

9. East Midlands

10. South East

11. London