Rent in Croydon rose by eight per cent in the past year, according to new figures.

Data from the Office for National Statistics shows that the average private rent in Croydon was £1,359 per month over the 12 months leading up to January 2024.

This is up by eight per cent from £1,246 in January 2023, year prior and also up 15 per cent from an estimated £1,163 a month in January 2020. 

Sarah Coles, head of personal finance at Hargreaves Lansdown, said "budget threats" were driving up rents. 

She said: "Given the continued exodus of landlords, renters face the double misery of fighting over the scraps and then paying a fortune for them." 

Dan Wilson Craw, deputy chief executive of Generation Rent, said: "Our biggest monthly expense is going up far faster than inflation or our wages." 

“Renters are being exploited by an out of control market, and the lack of protections that allow unscrupulous landlords to maximise the rent at every opportunity. 

"As a result, renters are unable to save for the future, and many are still making painful decisions about whether to turn the heating on or skip a meal.

"The government must cap rent increases at the lowest of inflation or wage growth, to stop this huge discrepancy between rent costs and renters’ incomes from widening.”

The figures also show the varying rental costs in Croydon as of January 2024, ranging from £1,080 per month for a one-bedroom property to £2,358 per month for a home with four or more bedrooms.

Deputy Prime Minister Angela Rayner said: "I am determined to get this bill in to law as soon as possible. 

“The thousands of children and families living in unsafe housing or under the cruel threat of a Section 21 eviction notice have been waiting far too long already. 

"We will deliver on our promise to renters and transform the sector into one where families can put down roots, where children can grow up in healthy homes, and where young people can save for their future."