The price of renting a home is climbing far faster in some parts of the North East than others, according to data shared with NewcastleWorld by property website Zoopla.
Zoopla’s rental index shows the difference in average rent prices from January 2020 to January 2023.
Renters in North Tyneside have seen the biggest increase over the three-year period, with a 24% rise in the cost of rent per month for new lets.
South Tyneside has seen the second highest increase with a 23.2% rise, whereas Hartlepool has seen the slowest rise, with a 16% increase throughout the period.
The report shows that renters in Newcastle are now spending on average an extra £1,812 on rent than what they were three years ago.
Here are the areas of the North East that have seen the biggest rise in rental costs since January 2020, according to Zoopla’s rental index.
1. North Tyneside
North Tyneside had an average rent of £513 per month in January 2020 and £636 in January 2023. This is a rise of 24%, which is equivalent to an extra £1,476 per year.
2. South Tyneside
South Tyneside had an average rent of £470 per month in January 2020 and £579 in January 2023. This is a rise of 23.2%, which is equivalent to an extra £1,308 per year.
3. Middlesbrough
Middlesbrough had an average rent of £463 per month in January 2020 and £567 in January 2023. This is a rise of 22.5%, which is equivalent to an extra £1,248 per year.
4. Darlington
Darlington had an average rent of £452 per month in January 2020 and £551 in January 2023. This is a rise of 21.9%, which is equivalent to an extra £1,188 per year.