Revealed: the commuter hotspot rent rises and falls
Rents in almost half of popular capital commuter towns increased in 2017, dealing tenants – already absorbing higher rail costs – a double financial blow, according to Landbay.
The price of renting a home annually jumped by a typical £183 or 1.68% across 17 commuter hotspots with access to London.
It comes as train ticket prices increased by an average of 3.6% across the UK.
Cambridge and Brighton have seen the biggest cost rises in rents in 2017 of 2.06% and 1.58% respectively.
Rents in Luton, Hastings, Basingstoke, Ashford, Canterbury and Horsham have also increased by more than 1% – working out at an average £146.
Rents fell in some areas
However, in some towns, commuters have benefited from a fall in rents.
Guildford, Reigate and Woking rents fell by a typical £127 or -0.73% last year – helping to ease rising travel costs.
Tenant costs in Aylesbury, High Wycombe and Slough also edged down in 2017.
In London, rents dropped by 0.8%, according to Landbay – using Mortgage Industry Advisory Corporation data – and increases across the UK grew by 0.56% in 2017.
John Goodall, chief executive of Landbay, said: “Commuters have seen their season ticket prices rise by more than £100 this week, the vast majority of whom are also looking at a double whammy of rent rises driven by greater tenant demand.
“At a time when rents in the capital are falling, some may even be considering a move into London, to be done with the train commute altogether.”