Rent in Lancaster rises 7% in past year
Rent in Lancaster rose 7% over the past year, new figures show.
Propertymark, a membership organisation for estate agents, warned "there remains an unhealthy imbalance" between rental supply and demand.
Provisional figures from the Office for National Statistics show the average private rent in Lancaster reached £786 per month in the year to November – up 7% from £737 a year prior.
It was also up 27% from an estimated £617 a month five years ago.
Valuation Office Agency rent officers collect prices from a variety of sources, including landlords and letting agents, with the aim to collect data on approximately 10% of the market.
Across the North West, the average rent was £933 – rising 6% from the year before.
Trafford had the highest rental cost in the region at £1,340 per month, while the lowest was in Burnley at £616.
In November, the average private rent in Great Britain was £1,377 per month. This was £57, or 4%, higher than 12 months ago.
Nathan Emerson, chief executive of Propertymark, said: "Though it might be disappointing for many to see that rents on average have increased overall, it is encouraging to see that through 2025, we have witnessed rental inflation trending downwards.
"There remains an unhealthy imbalance between rental supply and demand, however, which continues to contribute to rental prices edging upwards.
"It has been positive to see attention focused on ensuring higher standards and greater consumer protection for those who choose to rent during the year; however, it also remains fundamentally important that investment is encouraged to keep pace with ever-growing demand, as the population continues to expand."
The figures also show the different costs for various homes in Lancaster, from £574 for a one-bed property to £1,176 for a home with four or more bedrooms in November.