In the 12 months leading up to July 2024, the average private rental prices in the UK saw an 8.6% increase, consistent with the rise observed in June 2024.
The UK property market has seen significant changes in the past year, with varying degrees of rent and house price inflation across the regions.
The annual growth rate of rents for new lets has slowed to 6.6%, down from a peak of 16% in October 2021.
UK rental inflation has slowed to 6.6%, the lowest rate in 30 months.
In the 12 months leading up to March 2024, the average private rents in the UK surged by 9.2%, marking a notable increase from the 9.0% recorded in the preceding 12-month period ending February 2024.
This trend suggests a more balanced housing market compared to pre-pandemic levels, offering increased opportunities for prospective homebuyers in 2024, provided sellers maintain realistic pricing str
The latest data on the UK rental market indicates a significant deceleration in rental inflation, marking the lowest rate in two years.
The average UK rent for new lets has experienced a notable increase, reaching £1,220, marking an 8.3% rise compared to the previous year.
The UK's rental market continues to demonstrate resilience and growth, evident in various key rental indices.
The UK rental market has been characterized by a persistent supply-demand mismatch over the past three years, resulting in a substantial increase in rents for new lets.
The UK rental market in November 2023 experienced a slight slowdown, characterized by a monthly decrease of -0.3%. Despite this minor dip, year-on-year rental prices continued their upward trajectory.
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