New research has named Esher in Surrey as the most expensive place to rent a two-bed property outside of the capital.
According to Rightmove’s new stats, the average two bed property in Esher was asking nearly £2,000 per month in April, although asking rents haven’t been rising as fast as in other parts of the country.
A 4.1% uplift over in the past year is some way behind second-placed Oxford’s remarkable 11.7% rise, and even below the national annual increase (excluding London) of 4.6%.
The average asking rent for a two bed in Oxford now stands at over £1,600 per month, which is above the average for Outer London (£1,493 per month on average, up by 8.4% in the past year).
The portal reckons demand for rental property across the country is currently at a record high, after recording a 73% increase in email enquiries sent from home-hunters to letting agents in the past year.
Sam Mitchell, Head of Lettings at Rightmove: “The rental market has always been fast-paced but over the past year we’ve seen demand increase to record levels, and thousands have signed up to find out about new properties first through our instant property alerts. Rental asking prices have increased in line with this demand, with almost double the growth in the past year than the previous year. People moving out of the capital to places in the South East has contributed to double-digit growth in rents in some of the most expensive places like Oxford and Henley-on-Thames. Factors like being close to good schools and transport links will always come at a premium, and as these figures show it’s wrong to think that anywhere outside of London will definitely be cheaper.”