New data has revealed Sheffield ranks as the city in Yorkshire which has seen the highest percentage increase in rent costs year on year.
New figures from Zoopla’s UK rental market report indicate that rent charged by landlords in Sheffield has increased more than almost any other major cities in Yorkshire including Leeds, York and Doncaster.
In 2022 the average rental cost was £679 per calendar month, with 2023 figures showing a 10% increase at £747pcm for 1-4 bed properties.
In the report Richard Donnell, executive director from Zoopla, said that rents will continue to rise over 2023 but at a slower rate as demand moderates and affordability pressures start to bite harder on renters.
The percentage change in the year to January 2023 is higher in Sheffield than in Leeds (9.4 per cent), Doncaster (4.8 per cent) and York (7.2 per cent), according to the Zoopla data.
The 2023 average monthly rent of major cities in Yorkshire is shown on the graph below.
According to the Zoopla UK rental market report, the average monthly rent of 1-4 bed properties in Doncaster equates to £632. The average monthly rent of 1-4 bed properties in Leeds and York are reportedly at £916 and £1032 respectively. Both regions have higher monthly rents than Sheffield (£747).
Chelsea Stone, 29, from Sheffield: “I was very frustrated and unsatisfied when I first heard that the housing rents in Sheffield have surpassed more than house prices, I am really lost for words.
“I believe this trend is unsustainable and the city council should provide more aid to ensure that the basic human needs are provided without significant stress to our everyday lives. ”
Mrs Stone said the reason why she thinks the rents have elevated is because of the increasing university student population in Sheffield while the housing supply continues to be very limited.
“When the housing demand exceeds supply, the city council should do something to prevent the increasing tenant costs.”