UK rents climbed at their fastest rate since at least 2015 last month, as tenants continued to be squeezed.
New data from the Office for National Statistics shows that the average UK private rent increased by 9.2% in the 12 months to March 2024.
That’s up from 9.0% in February, and is the highest annual percentage change since the ONS started collecting this data in January 2015.
Average monthly rents increased to £1,285 (9.1%) in England, £727 (9.0%) in Wales and £947 (10.5%) in Scotland, the ONS reports, adding:
- In England, private rent inflation in the 12 months to March 2024 was highest in London (11.2%) and lowest in the North East (6.1%).
- In Great Britain, the average private rent was highest in Kensington and Chelsea (£3,305) and lowest in Dumfries and Galloway (£475).
