What Does £2K A Month Rent Get You Across The UK?

More and more people are tenants rather than homeowners today, some due to high prices stopping them from getting on the property ladder, but others because they like the freedom and reduced responsibility that comes with renting.

There are so many people renting these days that we are becoming known as ‘Generation Rent,’ as new research reveals London will become a city of renters by 2025, with just 40% actually owning their home.

By the end of 2015, the average UK rental stood at £743 per month. However, rents are rising fast and the most expensive place to rent in the country is, of course, London, while the cheapest is Nottingham.

Obviously, if you are renting as you start to get older, you will need more space as your family grows. So, with this in mind, here is what £2k a month rent can get you across the UK.

London: Two bed flat 

London has been hit the hardest by high prices and unattainable deposits and mortgages, with young people feeling the brunt; just 26% of those currently aged 20-39 will own their own home by 2025.

So, if you are in the other 74%, what will you be able to rent if you have £2k to play with? Well, if you are looking at living on the outskirts of the capital city you can probably secure a flat for this price, and you’ll get 2 bedrooms – a good bonus! Plus, many come with a stylish interior and views across the city.

Considering you could be paying £500pm for a bed in a cupboard in Clapham, this is a pretty good deal.

Bristol: Two bed flat or five bed house

Bristol house prices are rising faster than London, making it the first city to outpace the capital in six years. The average house price is now £250,900.

If you are looking to live in the centre of the city you could be living in anything from a stylish, 2-bedroom apartment on Berkley Square to a 4 bedroom terraced house, just off Park Street.

Move a bit further out of the centre and £2K could get you a 4 or 5 bedroom semi-detached house, with a fairly small garden.

Nottingham:

Now, let’s move to Nottingham – the cheapest place to rent in the UK and here you can definitely get something special for your money. If you are willing to add an extra £150 a month you can get a fully refurbished four-bedroom house, with a significant sized garden. This one is “essentially a brand new home inside a character property.” It also includes a garage as well as outbuildings!

If you are now considering a move in order to get more property for your money, then it is worth looking into RentHero which will help you find a new place and hopefully get more for your money.

It’s worth remembering how much of the renting process is handled online now, from viewing listings to sorting paperwork and even rent collection online, so the move might be easier than you’d expect.

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