UK Renters Face Higher Costs Despite Slowing Price Increases

Rent inflation eases but competition remains intense with 15 people vying for each property.

Average UK rent increased by £80 per month compared to last year.
London rents saw a 3.7% rise, significantly lower than previous years.
Demand for rentals outpaces supply, with new investments in the sector remaining low.
Zoopla predicts a further slowdown in rent growth to 5% in 2024.
Calls for government action to increase rental property supply to ease market pressure.