Average rent in England increased 9.2% to £1,369 in the 12 months to December - slightly down on the record-high annual growth seen in November (9.3%).  

The ONS Price Index of Private Rents shows average UK private rents went up 9% to £1,327 in December, down from 9.1% the previous month.

In England, rent inflation was highest in London (11.5%) and lowest in Yorkshire and The Humber (5.4%) while the average rent was highest in London (£2,220) and lowest in the North East (£706). Rents increased to £777 (8.5%) in Wales, while in Northern Ireland, they went up by 8.6% in the 12 months to October 2024.

Scotland

Average rent for Scotland was £991, up 6.9% (£64) over the year and higher than in the 12 months to November (6.5%). It was the first increase in Scotland’s annual inflation rate after 10 months of slowing annual inflation, reports the ONS, although because of data collection limitations, Scotland’s rent data is mainly for advertised new lets while the index measures the price change of the entire privately rented stock.

The figures come the day after the Renters’ Rights Bill passed its third reading in the House of Commons, when MPs failed to back an amendment to cap allowable rent increases within tenancies to the lowest of either wage growth or inflation.

Outrageous

Tom Darling, director of the Renters’ Reform Coalition, (pictured) believes the Bill fails to address the “outrageous cost” of renting a home. “If the government won’t cap rents through the Renters’ Rights Bill, they should establish a National Rental Affordability Commission, to look at all options to get a grip on the situation and actually bring rents down relative to wages,” he says.

Nathan Emerson, CEO at Propertymark, adds: “The UK government needs to concentrate on supporting both tenants and landlords by boosting the supply of new rental homes as it proceeds with the Renters’ Rights Bill.”

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