Private Rental Prices Still Increasing in England, Scotland and Wales
Rental prices paid by tenants in Great Britain (England, Scotland and Wales) increased by 1.4% in the 12 months to November 2017.
Rental prices for Great Britain excluding London increased by 1.8% in the 12 months to November 2017.
Rental prices for London increased by 0.6% in the 12 months to November 2017. This is the lowest annual increase in London since October 2010.
In England, private rental prices increased by 1.4%; Wales also saw increases of 1.4% while Scotland saw rental prices increase by 0.2% in the 12 months to November 2017.
The annual rate of change for Wales (1.4%) in November 2017 is the same as the annual rate of change for England and Great Britain (both 1.4%).
Rental prices in Scotland increased by 0.2% in the 12 months to November 2017.
England, Scotland and Wales have all experienced rises in their private rental prices since 2011 (Figure 4).
Since January 2011, rental prices in England have increased more than those in Wales and Scotland.
The increase in private rental prices in London was 0.6% in the 12 months to November 2017. The Royal Institute of Chartered Surveyors (RICS) reported in their October 2017 Residential Market Survey that London remains the only area in which 12-month rental growth projections are negative, with tenant demand still lacking momentum in the capital.
Focusing on the English regions, the largest annual rental price increases were:
East Midlands (2.7%);
South East (2.3%);
East of England (2.1%);
South West (2.1%).