The average private rent in Barnet reached £1,838 per month in the year to March reports Sonja Tutty, Data Reporter

A row of new looking terraced houses — Across London, the average rent was £2,243 – rising 9% from the year before – (Credit – Radar)

Rent in Barnet rose 7% over the past year, new figures show.

It comes as Propertymark, a membership organisation for estate agents, warned the rental sector faces “sizeable challenges” with an average of 10 people wishing to rent each property currently available in the UK.

Provisional figures from the Office for National Statistics show the average private rent in Barnet reached £1,838 per month in the year to March – up 7% from £1,720 a year prior.

It was also up 25% from an estimated £1,470 a month five years ago.

Data on rent prices is collected by the Valuation Office Agency from a variety of sources, including landlords and letting agents, with the aim of collecting data on approximately 10% of the market.

Across London, the average rent was £2,243 – rising 9% from the year before.

Kensington and Chelsea had the highest rental cost in the region at £3,639 per month, while the lowest was in Bexley at £1,422.

Nathan Emerson, chief executive of Propertymark, said the rental sector continues to see “sizeable challenges from a magnitude of different angles”.

He added: “We continue to see a considerable mismatch between supply and demand, with an average of 10 people wishing to rent each property currently available across the UK.

“In addition, we are seeing vast legislative changes that will affect how and if some landlords are able to continue operating within the sector.

“Throughout the last twenty years, renting a property has become enormously more popular with people, and it’s vital there is targeted support and investment in the sector to keep pace with ever-intensifying demand.”

In March, the average private rent in Great Britain was £1,343 per month. This was £96, or 8%, higher than 12 months ago.

Ben Twomey, chief executive at campaign group Generation Rent, said: “Everyone needs a safe, secure and affordable home, it’s the foundation of our lives. But renters across the UK are facing soaring rents, which are swallowing our earnings.

“When we are forced to spend too much of our income on rent, the effects ripple across the rest of our lives. It means children are going to school hungry, and older renters can’t afford to turn the heating on. High rents are trapping people in poverty and forcing them into homelessness.

“Price caps rightly exist for our energy and water bills, but there is nothing to stop a landlord suddenly hiking the cost of someone’s home.”

The figures also show the different costs for various homes in Barnet, from £1,409 for a one-bed property to £3,044 for a home with four or more bedrooms in March.

Among the property types in the area:

A detached housed cost £2,881 to rent per month
A semi-detached cost £2,428 per month
A terraced house was £2,097 per month
And a flat or maisonette was £1,639 a month

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