Rent in Lancaster rises 8% in past year
and on Freeview 262 or Freely 565
It comes as Propertymark, which represents estate agents, said selling property or turning to the short-term letting market is becoming a "more attractive" option for landlords.
Provisional figures from the Office for National Statistics show the average private rent in Lancaster reached £731 per month in the year to October – up 8% from £680 a year prior.
Advertisement
Hide AdAdvertisement
Hide AdIt was also up 20% from an estimated £608 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 £870 – rising 10% from the year before.
Trafford had the highest rental cost in the region at £1,278 per month, while the lowest was in Burnley at £582.
Advertisement
Hide AdAdvertisement
Hide AdSarah Coles, head of personal finance at Hargreaves Lansdown, said: "It means for many, the only way out of the endless cycle of rising costs is to buy, but this is far easier said than done when rents absorb so much of your income."
In October, the average private rent in Great Britain was £1,307 per month. This was £105, or 9%, higher than 12 months ago.
Nathan Emerson, chief executive at Propertymark, said: "As we continue to see a further increase in rental prices across the UK, our members continue to emphasise key concerns regarding the ongoing trend of lack of rental stock versus an ever-growing number of tenants looking for homes.
"Selling up altogether or turning to the short-term letting market is becoming a more attractive option for landlords due to the challenging legislative changes and increased financial liabilities they face."
Advertisement
Hide AdAdvertisement
Hide AdThe figures also show the different costs for various homes in Lancaster, from £530 for a one-bed property to £1,101 for a home with four or more bedrooms in October.
Among the property types in the area, a detached housed cost £1,046 to rent per month, a semi-detached cost £794 per month, a terraced house was £740 per month, and a flat or maisonette was £619 a month.