The Office for National Statistics official government lettings index shows that private rental prices paid by tenants in the UK increased by 6.1 per cent in the 12 months to October 2023.
This is the biggest annual percentage change since comparable records started in January 2016.
Rental prices in London rose by 6.8 per cent annually in October – the highest annual rate since records for London started in January 2006.
Annual private rental prices increased by 6.0 per cent in England, 6.9 per cent in Wales, and 6.2 per cent in Scotland in the 12 months to October 2023.
A separate ONS report on the sales market shows that average UK house prices decreased by 0.1% in the 12 months to September.
The ONS says the decline, which compares to a revised 0.8 per cent increase in August, was the first official fall since April 2012.
The cost of an average house in the UK was £291,000, little changed on September 2022. By region, the biggest falls were seen in Wales, where prices slid 2.7 per cent to £215,000. In England they dipped 0.5 per cent to £310,000 although in Scotland they rose 2.5 per cent to £195,000.
Month-on-month, house prices decreased 0.5 per cent in September on a seasonally-adjusted basis.
Private rental prices paid by tenants in Great Britain rose by...
Government figures from the Office for National Statistics show average rents...
One of Britain’s leading agents - former RICS residential chairman Jeremy...
Rent rises in the year to the end of February, as...
We all know that first-time buyers have had a tough time...
There was a long-awaited return to the House of Commons this...
Last weekend a story by The Sunday Times’ Deputy Political Editor...
You don’t have to simply accept things as they are when...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
Let's be honest – landlords are the lifeblood of any letting...
Attention estate agents: if you're looking for a bumper Christmas bonus,...
Houses in Multiple Occupation are making up an increasing percentage of...
There’s been at most a one per cent reduction in landlords...
.jpg)
An analysis of over 600,000 tenancy applications has found that fraudulent...
There’s been at most a one per cent reduction in landlords...
Tenant groups and charities reacted angrily over the Easter weekend to...
Michael Gove’s Department of Levelling Up, Housing and Communities hit back...
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment