Cheapest places to rent a home in the UK – find out how much your area costs

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A COMPARISON website has published the cheapest places to rent in the UK.

Rentround has pulled together the figures, which largely consist of towns and cities in the northern parts of England.

Shildon, in County Durham, was found to have the cheapest places to rent on average

The area of Aberdare, in south west Wales, is also included on the list.

Rentround broke the down the stats by postcode and found that the cheapest area is Shildon in County Durham, where you can rent a home for around £376 a month.

On the whole, the Darlington postcode area, which includes County Durham, northern North Yorkshire and a very small part of Cumbria, is the cheapest place to rent.

The data has been ranked based on the average price to rent a property in the area, so you may find some places near where you live have cheaper options available.

Raj Dosanjh, co-founder of Rentround, told HOAR the data is based on all property types, including one bedroom flats to four bedroom houses.

For the most expensive areas to rent, London largely dominated the list, with the area of South Kensington in SW7 coming in first place.

The average asking price to rent a property there is £2,996 per month.

Other places included in the most expensive places to rent in England were W1 (Mayfair, Oxford Street and Soho), SW3 (Chelsea), W8 (Kensington) and WC2 (Westminster and Camden) in London.

In each one of those areas, it costs on average more than £2,600 to rent a property per month.

HSBC has recently increased the minimum deposit for flats to 15% or 20% for first time buyers.

These are also the areas where first-time buyers won’t be able to use Help to Buy loan on family-sized new-build homes.

And the rural hotspots where Brits want to move to while working from home have been revealed.

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