🔥 Premium AI-powered Stock Picks from InvestingPro Now up to 50% OffCLAIM SALE

UK rent prices surging at record pace

Published 20/03/2024, 12:02
UK rent prices surging at record pace
LCO
-

Proactive Investors - UK private rents surged by 9% in the 12 months to February 2024, marking the steepest increase since the Office of National Statistics' records began in 2015.

Rent hikes were most pronounced in London, where they rose by 10.6%. Average UK house prices, in contrast, dipped by 0.6% over the same period.

The London borough of Brent saw the highest annual rental growth of all local areas and Melton in Leicestershire saw the lowest.

Rental prices were highest in Kensington & Chelsea and lowest in Dumfries & Galloway.

“These new data show that UK rental prices continued to grow strongly in the year to February, at their highest annual rate since records began in 2015,” said ONS deputy director for prices Matt Corder.

“Average UK house prices continued to fall, albeit at a slower annual rate than seen recently. Indeed, Scotland’s average house prices rose at their fastest annual rate for more than a year.”

Read more on Proactive Investors UK

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.