The cost of living in this area of England is booming

Advertisement

Miss World 2010, Alexandria Mills of the U.S. (3rd R), poses with Miss World 2011 contestants, (L-R) Miss Spain Carla Garcia Barber, Miss South Africa Bokang Montjane, Miss India Kanishtha Dhankhar, Miss Zimbabwe Malaika Mushandu, and Miss Australia Amber Greasley, as they punt on the River Cam in Cambridge, eastern England October 28, 2011. The contestants were in Cambridge to participate in a debate ahead of the Miss World Finals in London on November 6.

REUTERS/Suzanne Plunkett

The east of England includes areas like Cambridge, where the Miss World 2010 contestants are taking a punt.

House prices and rents are exploding in the east of England.

Advertisement

Rents in August across the region jumped by 11.5% to an average of £843 a month, according to a BBC report on a study by letting agents Your Move and Reeds Rains. The east covers areas like Cambridge, Bedford, Norwich, Ipswich, and Chelmsford.

The annual rent rise for the whole of England was less than half the figure in the east, just 5.5%, and month-on-month rents actually fell.

Rent growth in the east is faster even than London's super hot market, which grew by 10.2% in August.

The Office for National Statistics put out figures recently showing that house prices in this region are also going nuts. Year-on-year they rose by 8.3% in July, outpacing even London's price rises.

Advertisement

Meanwhile arrears - people getting behind on their rent payments - are rising, according to Your Move's survey of letting agents. 9.9% of all rent due across the country in August is late, the highest proportion since 2012.

NOW WATCH: These are the watches worn by the smartest and most powerful men in the world