UK rents rise at fastest pace this year, data shows
Average UK rents climbed to £1,400 in August, while annual house price inflation eased to 1.4%, the Office for National Statistics said.
- UK private rental costs reached an average of £1,400 in August, with annual growth accelerating to 3.8% from 3.7% in July, according to Office for National Statistics data.
- Consumer Prices Index inflation rose to 3.1% in August, up from 2.9% in July, driven by surging fuel and energy prices amid ongoing geopolitical uncertainty.
- Average UK house prices increased 1.4% to £273,000, though regional markets diverged sharply; the North East recorded 4.9% growth while London prices fell 3.3% for eleven consecutive months.
- Amy Reynolds, head of sales at Antony Roberts, said "supply remains tight as landlords continue to leave the sector, so tenants face stiff competition for good homes." Experts do not expect relief this autumn.
- Nathan Emerson, chief executive at Propertymark, stressed that the rental sector must attract "sustainable and continued investment to keep pace with growing demand" to address supply constraints.
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Experts react to the July House Price Index and latest private rent data
The latest UK House Price Index and ONS private rent data provide a fresh snapshot of the housing market, with house prices, rents, affordability and supply continuing to present a mixed picture across the UK. Experts from across the mortgage and property sector react to the latest figures, sharing their views on what they reveal […]
Official data released today on Wednesday show that Britain's average rental rates for private real estate rose during August at its fastest pace this year, while data revealed a slowdown in domestic price inflation. According to the National Statistics Office, average rents increased by 3.8% on an annual basis in August, compared with an increase of 3.7% in the month of [...].
Prices advance 0.55% in August and accumulate high by 6.56% in the year; high interest keeps families in the rental market
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