The rental market in the UK has been busier than ever over the last few years. Tenants across the country have seen their rent costs rise as a result of a 'chronic imbalance' of supply and demand.
According to Zoopla, demand pressures have been worsened recently by rising mortgage rates making it harder for people to get on the property ladder, and therefore forcing more people to rent.
With high demand and a lack of supply comes higher prices which has caused the average rents to surge. Rent costs for new tenants have increased by 11 percent in the last 12 months alone and a huge 20 percent rise in the last years - which is around an extra £2,220 a year.
