Oxford has been named one of the UK’s top rental hotspots.
According to a new UK Rental Index from Pepper Money, the city placed fourth out of 42 locations for fastest-growing rental demand.
The index analysed areas based on search interest, stock levels, rent inflation, letting speed, and average rent by property type.
At 143 searches per 10,000 people, demand remains high, with renters paying an average of £1,629 per month.
Paul Adams, sales director at Pepper Money, said: "We can see that rent is continuing to grow in demand in the UK.
"Our research highlights strong levels of search interest across 42 locations, alongside very short letting periods.
"This suggests that renters are moving fast to secure their homes in an extremely competitive market, and it’s something that landlords can see and work with renters to secure desired tenants."
Mr Adams said the shifting market offers 'an opportunity for renters and landlords to work more closely together'.
He said: "There is a greater demand for stability, reliability and more trust on each side.
"Landlords who understand the evolving needs of their renters, such as longer tenancies and, in some cases, more space, are at a greater chance of succeeding and securing those longed-for tenants in this competitive market."
Oxford also ranked highly for potential rental yields, with one of the strongest rental averages in the study.
London remains the UK’s most expensive city for renters, with average monthly rents reaching £2,247 - 31 per cent higher than in Oxford.
