Table Of Content
- Private rent and house price data
- Statistical bulletin
- Figure 3: The average rent annual inflation for England rises above the rate for Wales
- Popular rental markets in California
- Popular rental markets in New Jersey
- UK private rent and house prices
- Figure 2: The average rent in Great Britain was £1,246 in March 2024
- Figure 4: Average rent annual inflation was highest in London
Each subsequent month, updated Northern Ireland data are used to revise estimates for the UK. This means that there is a two-month revision period for the UK series in PIPR. By chain-linking the IPHRP (pre-2015) and PIPR (2015 onward) indices together, we have published a full historical series for the UK, Great Britain, its countries and English regions. Series begin in January 2005 for England, January 2009 for Wales, January 2011 for Scotland, and January 2015 for Northern Ireland and the UK.
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Private rent and house price data
More information is available in our PIPR Quality and Methodology Information (QMI). The Cost of Living (Tenant Protection) Scotland Act capped in-tenancy rent price increases at 0% (and up to 3% in certain circumstances) from September 2022 until 31 March 2023. Between 1 April 2023 and 31 March 2024, this rent price-increase cap was 3% (and up to 6% in certain circumstances). From 1 April 2024, temporary changes to the rent adjudication system restricts rent increases for existing tenants who apply for rent adjudication.
Statistical bulletin
Property information is for the users personal, non-commercial use. Information may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties that appear on the website may no longer be for sale, and may be under contract or sold. B) The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify properties the consumer may be interested in purchasing or renting.
Figure 3: The average rent annual inflation for England rises above the rate for Wales
Because of this imbalance, their respondents continue to expect rents to rise over the coming months. In recent periods, the total transaction volumes and new build volumes available to calculate UK HPI estimates for recent months have been lower than historically. The Office for National Statistics (ONS) and HM Land Registry (HMLR) are working to resolve this. Price Index of Private Rents QAAD Methodology | Released 20 March 2024 Quality assurance of administrative data (QAAD) used in the monthly production of Price Index of Private Rents (PIPR). We are investigating the feasibility of extending the time-series back further. The full UK House Price Index report and monthly data are published by HM Land Registry.
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Popular rental markets in California
We advise caution when comparing pre-2015 trends with later estimates because of the methodology change in January 2015. In March 2024, the average private rent was highest in Kensington and Chelsea, London (£3,305), and lowest in Dumfries and Galloway, Scotland (£475). Excluding London, the local area with the highest average private rent in March 2024 was the City of Bristol, South West (£1,748). The average private rent in Great Britain was £1,246 in March 2024, which is £104 (9.1%) higher than 12 months ago. While mitigation efforts are made, price changes at local levels can be influenced by the type and number of properties collected in any given period, which may lead to volatility. Longer-term trends should be considered for lower-level geographic breakdowns, rather than monthly movements.
Popular rental markets in New Jersey
Interchangeable with "annual inflation" (or "annual growth", if positive). There was a varied distribution in average monthly private rents across local authorities in England and Wales, and Broad Rental Market Areas in Scotland. Because of differences in data collection and housing policy, caution is advised when comparing Scotland's estimates with other areas in England and Wales and within Scotland.
UK private rent and house prices
Average house prices increased by 1.4% to £178,000 in the year to Quarter 4 (Oct to Dec) 2023 in Northern Ireland. Average private rent in Northern Ireland increased by 10.1% in the 12 months to January 2024, up from 9.3% in December 2023. Our new local housing statistics tool summarises the latest private rents and house price statistics for local areas. Average UK private rent increased by 9.2% in the 12 months to March 2024 (provisional estimate). This was up from 9.0% in the 12 months to February 2024 (revised estimate) and represents the highest annual percentage change since this UK data series began in January 2015. Northern Ireland rents data are not available for the latest two months.
Scotland's annual inflation rate has been generally slowing since the record-high annual rise of 11.8% in August 2023, which was the highest annual rise since this series began in 2012. The Price Index of Private Rents (PIPR) is released as official statistics in development, and is subject to revisions if improvements in the methodology are identified. Currently, average private rent is published for Great Britain, but not for the UK. We aim to publish average rent prices for the UK and Northern Ireland in March 2025.
Figure 4: Average rent annual inflation was highest in London
Scotland's average house price fell in winter 2022 to 2023, reaching a low point in February 2023. Scotland's average house price returned to mid-2022 price levels by mid-2023 and has since remained comparatively stable. Average private rent for Scotland was £947 in March 2024, up 10.5% (£90) from a year earlier.
This information is intended for the personal use of consumers, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Scotland rents data are predominantly for advertised new lets, with only a small proportion based on existing lets data. Therefore, price changes for existing tenancies are largely estimated for Scotland. Annually, over 450,000 private rent prices are collected in England and around 30,000 in Wales, 40,000 in Scotland, and 15,000 in Northern Ireland. In March and April 2024, UK HPI estimates were revised from January 2021 onwards by making use of price data processed outside the UK HPI's normal 12-month revision period. Users should be aware that revisions may be larger than usual and should note the significantly greater uncertainty around new build prices. UK HPI will now return to the usual 12-month revision period for future releases.
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