The price of renting a home in Chelmsford has soared by nearly 25 per cent in the last year according to new research.
Renters across Essex have been hit by up to 18 per cent rises in the last 12 months, meaning that the average price of a rental property in the county now stands at £1,200 per month, up by £193 on last year.
People renting in Chelmsford have seen up to 22 per cent increases.
This takes the average monthly rental up from £842 in June 2014 to £1,027 in June this year.
Nearby Brentwood has seen prices rise by 17 per cent, from £1,105 in June 2014 to £1,288 this year.
Howard Lester, Director of Balgores Property Group comments: "Our latest data shows that some towns in Essex have seen large rent rises year on year.
"This is partly down to increased demand for larger properties, as more and more families are looking for rental property in towns such as Chelmsford and Brentwood."
For further information, please visit www.balgoresproperty.co.uk.
Have you been affected by the rent increases? Are you struggling to save money for a deposit or are you a landlord happy about rising rents?
We would like to hear from you email charlotte.austen-hardy@nqe.com or call 01375411524
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