Have Ryan Reynolds and Rob McElhenney boosted the property market in Wrexham?

The cost of renting a home has skyrocketed in recent years, amid a cost-of-living crisis and rising mortgage rates. A lack of homes for sale has also put pressure on rents, which have risen to record levels.

However, property website Rightmove says it has seen a "slight easing" of the pressure on rents in 2024, with the number of tenants looking to move dropping by 16% compared to 2023, and the number of homes available to rent increasing by 8%.

But a Rightmove expert said things were still tough in the market. "We’ve by no means moved into a quiet rental market: when we compare 2024 to 2019, there are currently 17% more tenants looking to move, and 32% fewer homes," they added. "However, we’re not seeing the same easing in demand play out in all areas of the country, and some areas are attracting almost three times the national average of 19 enquiries per property available to rent."

The company has now produced a list of the top 20 most in-demand locations for renters - and compiled how much the average rent costs for prospective home-hunters. Top of the list is the Welsh city of Wrexham, which has been in the spotlight in recent years following the popular TV series, Welcome to Wrexham. The show follows Ryan Reynolds and Rob McElhenney after they took the helm at one of the world’s oldest football clubs.

Speaking earlier this year, Wrexham manager, Phil Parkinson, praised the Hollywood A-listers for ‘uplifting’ the club and the town. He said: "The Wrexham area has been uplifted by the football team doing well. But equally the owners, and the feel-good factor they've brought into the area, American tourists and tourists from other countries coming around to look at the Racecourse Ground.

“Obviously when Rob and Ryan bought the football club, one of the aims was to see if a successful team could transform an area, and I think certainly, it's along the way of doing that. You really feel it in the town that everybody's walking around with a smile on their face, and enjoying being part of it, because I think everyone is a part of it.“

Rental properties in Wrexham draw an average of 54 enquiries per home, with Glasgow (52 enquiries) and Bristol (51 enquiries) the second and third most in-demand areas.

20 busiest UK rental markets

The number of enquiries per property and how much they cost - according to Rightmove:

1. Wrexham, 54, £967
2. Glasgow, 52, £1,078
3. Bristol, 51, £1,658
4. Plymouth, 50, £1,137
5. Wirral, 47, £999
6. Salford, 47, £1,232
7. Stockport, 46, £1,384
8. Oldham, 45, £1,022
9. Tameside, 45, £1,091
10. Bath and North East Somerset, 45, £1,784
11. Blackpool, 44, £805
12. Rochdale, 42, £1,048
13. Lancaster, 41, £992
14. Liverpool, 41, £1,018
15. Edinburgh, 41, £1,582
16. Manchester, 41, £1,362
17. Norwich, 41, £1,229
18. Telford and Wrekin, 40, £1,030
19. Bury, 40, £1,088
20. Wigan, 39, £895

Rightmove property expert, Tim Bannister, said: “While 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.

"At the same time, prospective tenants are still likely to be experiencing a very hot and competitive market. To be receiving upwards of 50 enquiries per available rental property in some local areas is an astonishing figure, which goes to show the significant amount of work still to be done to improve the balance of supply and demand across different areas of Great Britain."