AVERAGE rent prices in Malvern are drastically cheaper than the nations median, according to new data from the Office for National Statistics (ONS).
Across Malvern, from October 2022 to September 2023, the median monthly private rental costs for one, two, three and four or more bedroom properties was significantly lower than the national average.
On average, one bedroom rental properties cost £600 compared to £750 in England, two bedrooms cost £750 compared to £825, three bedrooms cost £890 and four or more bedroom properties cost £1475 compared to £1550.
Median monthly rents in the West Midlands came in at £750 whilst the lower quartile was £615 and the higher quartile was £900. Monthly rents for different sized properties was not outlined for the West Midlands within the study.
The nations most expensive local authority for rental properties was Westminster with an average of £2,622 while the lowest national average was in Burnley at £476.
Across the data set, the median monthly rent price in England totalled £850 – the highest ever recorded.
Data was compiled by ONS using the rent prices provided by Lettings Information Database from the Valuation Office Agency on 459,340 English properties.
It was noted in the study that local authority samplings can be small, making median monthly rents ‘slightly less reliable’ than national averages.
Visit https://www.ons.gov.uk/peoplepopulationandcommunity/housing/bulletins/privaterentalmarketsummarystatisticsinengland/october2022toseptember2023 for more.
