Tenants in Mendip are now shouldering a 33.6% increase in rent compared to five years ago, with the current monthly figure standing at £922, a study by Zero Deposit has found.

This marks Mendip as one of the areas with the fastest-growing rents in the region.

The study, conducted by the company offering an alternative to traditional tenancy deposits, has dissected rental trends across the nation, identifying significant regional variations.

In Bristol, renters are now paying an average of £1,513 per month, a notable hike of 40.9% from £1,074 five years prior, reflecting a dire shortage of housing to satisfy the demand of new tenants in the area.

Zero Deposit's CEO, Sam Reynolds, commented on the findings: "Tenants are struggling with rental affordability, and with huge increases to the cost of renting in cities like Bristol and Liverpool it's easy to see why." He further pointed out that "Even in areas where rents have fallen, the cost of securing a property remains extremely expensive."

The study also notes that the challenges in the rental market have been compounded by the rising energy costs, increased mortgage rates, and a persistent shortage in housing supply, exacerbating the situation in areas once deemed affordable.

Other cities such as Liverpool and Norwich have also felt the strain with rent increases of 33.1% and 31.9% respectively.

Conversely, some traditionally expensive areas are seeing a different trend. Surrey's Elmbridge, despite a notable 21.6% decrease, still sees rents at £1,554 per month. Guildford also reported a decrease of 3.8%.

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Furthermore, London districts including the City of London, Richmond Upon Thames, Kensington and Chelsea, and Brent have witnessed rent reductions ranging from 2.9% to 8.1%.