Milton Keynes named as one of top five most expensive places in the UK to rent a three bed house

A new study has analysed house rental prices of properties across the UK and found Milton Keynes to be one of the most expensive places in the UK.

CIA Landlords Insurance researched the rental prices of three bedroom family homes to discover where tenants can get the best deals.

They also investigated whether landlords could make the more money by renting an entire property or by letting individual rooms.

A spokesman said: “We compared average rent costs for 3-bed properties and single rooms in a property across the top 30 most populated cities in the UK, revealing which UK cities – and which rental strategies – offer the best value for both landlords and tenants.”

Unsurprisingly, London emerged as the most expensive place to rent a three bed property, with the average price calculated at £5,078 a month. Second was Edinburgh at £2,511, followed by Bristol and Glasgow.

Milton Keynes was the fifth most expensive place in the UK, with an average rent of £1,623.47 for a three bedroomed family home.

The city also came out as one of the top five most costly places in the UK to rent a single room in a house or flat. In MK, the average cost of such a room is £634.83 a month, compared to compared to £971.90 in London, £709.72 in Bristol, £696.50 in Kingston-upon-Hull and £662.73 in Edinburgh.

In terms of landlord profit, Milton Keynes was once again in the top five. But the research showed there was more profit to be made by letting rooms individually than by renting out entire houses.