Fastest rent rise in five years adds to concerns over UK cost of living crisis

To let signs outside properties in London, which registered the smallest increase in average rents in 2021 – although that is beginning to change. Photograph: Yui Mok/PA

Private rents in the UK are rising at the fastest rate in five years, ratcheting up the cost of living burden on millions of households.

The average cost of renting for UK tenants rose by 2% in 2021 – the largest annual increase since 2017, figures from the Office for National Statistics show. Soaring rental prices, coupled with inflation hitting 5.5% in January, will pile further pressure on the government to increase support for vulnerable families.