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Private rents rose almost five per cent in last year – ONS

  • 21/06/2023
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Private rents rose almost five per cent in last year – ONS
Private rental prices paid by UK tenants have risen five per cent in the year to May, the largest annual percentage change since records began in 2016.

According to the latest figures from the Office of National Statistics, excluding London, rental prices increased by 4.9 per cent annually in the UK, compared to 4.8 per cent to April.

In England, the West Midlands reported the highest annual rental price percentage increase at 5.2 per cent.

This was followed by London, which went up by around 5.1 per cent in the 12 months to May, which is an increase on five per cent in the prior month. The report noted that this was the highest annual change in London since 2012.

Yorkshire and the Humber took third position with an annual percentage increase of 5.1 per cent.

The North East had the lowest annual percentage change at 4.3 per cent, followed by the South East at 4.4 per cent and the South West at 4.6 per cent.

Private rental prices in Wales also increased by five per cent annually, which is the largest annual change since 2010.

In Scotland, the rise was pegged at 5.4 per cent over the same period, up from 5.2 per cent annual growth in April.

Scotland brought in a rental cap of zero per cent until 31 March, and from April this rental price rise cap was upped to three per cent or up to six per cent in certain circumstances.

In Northern Ireland, private rental prices jumped by 10 per cent in the 12 months to March.

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