Leeds among ‘most affordable’ UK cities to rent a home

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Leeds has been named among the best-value cities to rent a home, according to new research.

The city was third in a list of the most affordable places to rent a home, alongside Plymouth - which topped the list - and Cardiff.

HomeLet analysed 16 cities across the UK to calculate the cheapest and most expensive places to rent, compared with local incomes. In Leeds, the average monthly rent was £547, commanding 34 per cent of an average income of £25,445.

London was named the most unaffordable major city in the UK, where an average monthly rent of £1,413 equates to 49 per cent of a £50,193 income.

Edinburgh and Birmingham followed close behind with tenants paying out 47 per cent of income towards monthly rent payments. Martin Totty, chief executive of Barbon Insurance Group, of which HomeLet is part, said: “The divide between areas that previously registered fast-growing rents and those where increases were more modest suggests that the market may be levelling out geographically. All around the UK, landlords continue to make sensible decisions about the ability of tenants to pay rents. The recent easing in the rental sector mirrors to some extent the autumn cooling of the house purchase market, where house price increases have begun to ease in recent months.”

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