A recent report from the Office for National Statistics has revealed that the average monthly rent in Garston and Watford rose by 8.8 per cent in the last year.
The average monthly private rent in the area was £1,702 in September 2024, up from £1,565 in September 2023.
This rise is four percentage points higher than the national average.
The 2021 census revealed that 28.2 per cent of Watford residents live in privately rented accommodation.
Rent increases become a problem when the rate of rent rise outpaces a person’s wage growth. Currently, the two are not positively correlated.
Graph credit – Office of National Statistics
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