Office for National Statistics: Rental prices rise

by Aaron Strutt

Jan 05 2020

London private rental prices increased by 1.2% in the 12 months to December 2019 according to the ONS Index of Private Housing Rental Prices.

The report says growth in private rental prices paid by tenants in the UK generally slowed since the beginning of 2016, driven mainly by a slowdown in London. However, rental growth has started to pick up since the end of 2018, driven by strengthening growth in London.

The Royal Institution of Chartered Surveyors reported in their November 2019 Residental Market Survey that demand from prospective tenants held steady, with rents expecting to rise modestly over the next three months.

Focusing on the English regions, the largest annual rental price increase was in the South West, 2.2%, down from 2.3% in November 2019. This was followed by the East Midlands (2.1%), Yorkshire and the Humber (1.9%) and the East of England (1.5%).

The lowest annual rental price growth was in the North East where prices increased by 0.5%, followed by London and the North West, which both increased by 1.2% in the 12 months to December 2019.

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