Property Rental Prices in Great Britain: November 2017

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%).

 

How Much Does It Cost To Rent A Property?

Average Monthly Rental Per Region

England & Wales (LSL Property Services Buy-to-Let Index)

Average Monthly Rental Per Tube Zone (London)

London (LSL Property Services Buy-to-Let Index)

Stuart Beaty

Celsium, Birmingham, UK