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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very interesting; I think I would die if I had to pay 2K a month for rent!
very informative posts! this will help lots of people who’s needing to move and want to get more ideas about the rent
I find this interesting and helpful at the same time for people who are looking for a place to stay in UK. I have few friends there and I will share this article because it might help them. Thanks for sharing!
I’m paying 580 for a bungalow – three bedrooms in Wales – 2K sounds like crazy money! Why did you choose that amount?
Wow! I will share this with my friends in UK. I am so sure this will help them.
These prices are absolutely crazy to me, have you looked into house renting prices in Scotland I’m certain for 2K a month you could rent a mansion.
I use to love renting but after the current lease that we’re in and the terrible landlord that we have this time around, I’m done!
wow, that’s a low number on young homeowners. I wonder what it is in the US. Rents are not cheap here, but the prices there seem a bit higher.
It’s crazy how a town right next to you can be so much cheaper or more expensive! That’s exactly how it is here in WNY!
My sister is living in UK. I will share this post with her.
The cost of housing is also higher here. This is such a great resource for those who are looking for a place to rent in UK.
Housing is also so expensive where I live in the US. For $2000 US your lucky to get a 2 bedroom apartment.
Great tips for those looking in the UK! I would love to visit the UK, but I don’t know if I would want to live there. Although, that could change after a visit.
I have a friend that just moved there and I will share this with her. I would love to visit someday.
I have to check out Nottingham next time I’m in the area. We have always talked about a second home in the UK.
My cousin just got married in England over the weekend!
Great tips for those looking to move to the UK or whom already live there. If i were to move, id probably go to Nottingham just for the mere fact you get more for your money.
Thanks for the information. I have a friend who is planning to rent here. I will pass this article to her.
This is such a great overview on what to expect. I love that Nottingham is so affordable!
Wow, who the heck has £2k a month to spend on rent – and who would want to spend that amount?? If we were renting I would far rather get a normal but reasonably priced house somewhere (not Bristol or London it seems!) and spend the rest on something more interesting! Crazy money. Having said al that, the rental market remains unregulated and the rents go up and up, a nightmare for ordinary people, especially those at the bottom of the heap.
This is indeed great information for those wanting to move to the UK or who live in the UK. The economy is bad for most people now days and it is cheaper to rent for most people. Thanks for sharing the information.
This post is so good. I will share this with a friend. He is moving to UK and he would love this.
This is great info for people who are considering London to know. Find the right place can be hard
It definitely depends on where you are. The value of a place increases depending on the demand, especially if the place is near offices or schools!
Isn’t it amazing how much the rates differ in the same city? I guess it all depends on which part of town you live in. The safer the neighborhood, the higher the price, I guess.
The cost of housing is crazy here in Seattle too. I am amazed what you can get in other states in our country that is 1/4 of the cost here!
I have looked at the different rates across the world for rentals. It is crazy how much the cost differs.
Really useful guide for people thinking about moving in the UK and even it’s own residents
I watch House hunting a lot and was quite shocked to find out how costly living in the UK can be, and the houses are somewhat small. I think that among everything in the list you’ve given, Nottingham has the most potential.
This is a great resource for anyone looking for a place in the area. Thanks for sharing this.