Rental Market of Redcar and Cleveland

Area selected: Redcar and Cleveland

Redcar and Cleveland

Average rent

£505

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Rent growth

0.6%

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How much is rent in Redcar and Cleveland?

The average rent in Redcar and Cleveland is £505 according to a survey of properties carried out by HMRC's Valuation Office Agency between September 2020 and September 2021. Between the years ending September 2020 and September 2021, average rents in Redcar and Cleveland grew by £3. Compare average rent by area.

Redcar and Cleveland's average rent of £505 is £393 lower than the £898 average rent in England. Redcar and Cleveland is the 54th most expensive unitary authority (of 59 total) based on average rent price.

The average rent growth rate in Redcar and Cleveland between the years ending September 2020 and September 2021 was 0.6%. If rents continue to grow at this rate, average rents will reach £517 by 2025.

The average cost of rent in Redcar and Cleveland varies depending on property type, prices start at £399 for a one bed flat and rise to £728 for a house with four or more bedrooms.

Rental data for Redcar and Cleveland is based on a sample that may change over time. Some differences in trends may be due to changes in the sample rather than true changes in the rental market.

Redcar and Cleveland rent price ranges

Within each property type, rent price can vary depending on variables such as property size and condition of fittings. For example, the lower quartile rent for two bed flats in Redcar and Cleveland is £425, increasing to £525 for the upper quartile rent.

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Types of rental property in Redcar and Cleveland

Based on the 1,030 properties surveyed, the most common type of rental property within Redcar and Cleveland is 2 beds, which account for 40.8% of properties. In England, the most common type of property is 2 bed flats, which account for 42.1% of the rental market stock.

The least commonly available type of rental property is 4+ beds, which account for 4.9% of properties. In England, the least common type of property is Studio flats, which account for 2.5% of the rental market stock.