New data has revealed the cheapest postcodes in Norwich to rent a room.

The figures come as the cost of renting has risen by 12% in the space of 12 months amid a steep drop in availability since 2017.

Research by flatshare portal SpareRoom looked at the average monthly rental price in and around the city, with NR6 coming out as the cheapest.

Matt Hutchinson, SpareRoom director, said: "The rental market has been moving so fast in recent months it can be almost impossible to know which areas are in your budget.

"Hopefully, this list of the most and least expensive areas will help people who are looking to make their next move but aren’t sure where they can afford.”

Norwich Evening News: Old Catton Deer Park in NR6Old Catton Deer Park in NR6 (Image: Brittany Woodman)

NR6, which includes Hellesdon, has the cheapest average price at £511 per month.

Whereas NR2, which includes part of the city centre and the Golen Triangle, is the most expensive with an average price of £563.

NR7 is the next most expensive postcode at £546 while other areas offer a similar monthly rental cost, with NR1, NR3 and NR5 costing £537 a month.

 

The rental market in Norwich has seen a 57% rise in demand over five years amid a dramatic fall in available properties, according to local letting agents.

Rents have risen by 12% in the space of 12 months while the cost of living crisis is forcing more renters to choose single rooms as self-contained properties become out of budget.

Norwich Evening News: Tiffanie Kerr, lettings development manager for Brown&CoTiffanie Kerr, lettings development manager for Brown&Co (Image: Brown&Co)

Tiffanie Kerr, lettings development manager for Brown&Co, believes there is no sign of prices falling anytime soon.

She said: “Rental prices in Norwich continue to creep up and we are seeing no sign of this slowing.

"The demand for rental property has grown over the last five years by around 57%, however, the rental market itself and the available number of properties coming to the market has not kept up.

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"In fact, the number of privately rented properties in Norwich has reduced by over 1000 since 2017.

"The number of properties along with the increasing interest rates is resulting in higher rent and tenants are feeling the pressure, yet we are still seeing on average 10 registrations per property.”

Norwich Evening News: Norwich has seen a fall in the number of properties available to rent in the last five yearsNorwich has seen a fall in the number of properties available to rent in the last five years (Image: Denise Bradley)

For Luke Savins, head of lettings at Minors & Brady, the rise in people working from home has also driven up the price of larger rooms. 

He added: "Rents are increasing across all areas of the market and with the significant rises in energy prices, room lets which are typically bills inclusive, are among the most affected.

"As rents and energy costs rise, many single tenants are now struggling to find self-contained properties within their budget and are therefore moving into shared accommodation.

"In addition to this, as working from home becomes more common, larger rooms with space for a desk are also at a premium."