Wrexham, the largest town in North Wales, has maintained its position as Britain's busiest rental market for the second consecutive year. This surge in demand is primarily attributed to a significant reduction in available properties, rather than the widely speculated influence of Hollywood celebrities.
According to Rightmove's research, letting agents in Wrexham received an average of 54 inquiries for each new rental property advertised in 2024, surpassing all other British cities. This figure, while slightly lower than the 56 inquiries per property recorded in 2023, remains substantially higher than the national average of 19 inquiries per listing.
The town's rental crisis stems from an exodus of landlords, prompted by new regulations introduced in Wales in 2022. These laws, which allow tenants to withhold rent under certain conditions, have led many property owners to reconsider their investments. Vaughan Schofield, of Belvoir Wrexham, explained, "The pendulum has swung to a point where the legislation favours tenants over landlords. That's the perception and that's what has led to so many landlords considering whether they should sell or not."
This scarcity of rental properties has resulted in fierce competition among tenants. Schofield reported instances of people searching for accommodation for six to nine months, with a recent three-bedroom semi-detached property listing receiving over 160 email inquiries.
While Wrexham's rental market has garnered attention, it's worth noting the town's rich history and cultural significance. Founded in 1864, Wrexham Football Club is one of Wales' oldest, playing at the Racecourse Ground, recognized as the world's oldest international football stadium still in use. The town also boasts industrial heritage, particularly in coal mining and brewing, with Wrexham Lager being one of the UK's first lager breweries, established in 1882.
Despite the rental crisis, Wrexham continues to attract interest due to its diverse offerings. Home to Glyndŵr University and hosting the annual FOCUS Wales music festival, the town maintains a vibrant cultural scene. The nearby Pontcysyllte Aqueduct, a UNESCO World Heritage Site, and St Giles' Church, housing one of the Seven Wonders of Wales, further enhance its appeal.
In the broader context of the UK rental market, Rightmove's data reveals that average advertised rents outside London have reached a record £1,349 per month, a 5% increase from the previous year. However, this growth rate is significantly lower than the 12% peak observed in 2022.
Other cities experiencing high rental demand include Glasgow with 52 inquiries per property, Bristol with 51, and Plymouth with 50. Tim Bannister, a Rightmove property expert, commented on the situation: "Whilst at a high-level there has been an easing in the rental market compared with last year, from speaking with agents, we know that many local markets are yet to feel the effect from these improvements."
As Wrexham navigates this challenging rental landscape, its rich industrial heritage, cultural attractions, and recent spotlight due to celebrity investment in its football club continue to shape its identity. The town's rental market serves as a microcosm of broader issues facing the UK housing sector, highlighting the delicate balance between tenant protections and landlord incentives.