Renting has become even tougher in the last few months with the cost of living increasing and rent costs continuing to climb. Whilst competition has always been fairly fierce amongst rental homes in Manchester, demand and low stock have now pushed prices to the highest level in 16 years.
Average asking rents outside of London have now hit another record high, and Manchester is no exception. The average cost to rent in the city has reached a peak of £1,127 per month, which is the highest annual rate that Rightmove has recorded in 16 years.
Rents in Manchester have risen by 23.4 per cent in the last year alone, with the average asking rent per month recorded at £913 in the second quarter of 2021.
