The Price Index of Private Rents (PIPR) increased gradually since 2015 and reached a value of ***** in ************. That indicates a rental increase of ** percent since ************, the baseline year when the index was set to 100. The rental rates for mainstream properties are forecast to continue to grow over the next five years.

An experimental price index tracking the prices paid for renting property from private landlords in the United Kingdom

Rents in England's capital, London, declined by *** percent annually as of January 2025. Nevertheless, many boroughs recorded growing rental prices, with Bromley and Croydon observing double-digit growth. Across the region, Croydon, Barking, Dagenham, and Havering ranked as some of the most affordable areas to rent. As shown by the Index of Private Housing Rental Prices, rents in the UK have soared since the COVID-19 pandemic.

The Price Index of Private Rents (PIPR) has shown significant growth, reaching a value of 117.9 in January 2025. This marks an increase of approximately 17.9 percent since January 2023, reflecting a robust upward trend in rental prices. Notably, the index saw a steady rise throughout 2024, with an annual percentage change peaking at 9.2 percent in March 2024. Mainstream properties are forecast to see rents further increase until 2028.

The average rent for flats and maisonettes in the private rental market in Great Britain increased faster than any other property type as of January 2025. The Index of Private Housing Rental Prices measures the change in the price of renting residential property from private landlords, based on an index value of 100 in January 2023. In January 2025, the index value for flats and maisonettes amounted to 119.5 index point, suggesting an increase of nearly 20 percent since the baseline year. Detached houses increased by 16 percent.

The Index of Private Housing Rental Prices (IPHRP) is a quarterly experimental price index. It tracks the prices paid for renting property from private landlords in Great Britain.

IPHRP is produced from a number of administrative sources and is classified as experimental by ONS.

The index compares trends (rather than levels) in average private sector rents across English regions, Wales and Scotland. It uses a complex mix-adjustment and weighting process to produce a single index for each area. This index uses data on actual new and ongoing rents.

The sample ensures that the index is representative of the stock at regional level and that it isn't distorted by units dropping out of the sample because they switch to LHA or for other reasons. This is an advantage over the VOA dataset where the sample is changing over time and may not be representative.

Tables show monthly data. Data is updated once a quarter.

Index level (January 2011 = 100). Not seasonally adjusted.

See more on the ONS Website

Median monthly rental prices for the private rental market in England by bedroom category, region and administrative area, calculated using data from the Valuation Office Agency and Office for National Statistics.

Renters in the UK spent on average 32.5 percent of their income on rent as of January 2025. Scotland and Yorkshire and Humber were the most affordable regions, with households spending less than 28 percent of their gross income on rent. Conversely, London, South West, and South East had a higher ratio. Greater London is the most expensive region for renters Greater London has a considerably higher rent than the rest of the UK regions. In 2024, the average rental cost in Greater London was more than twice higher than in the North West or West Midlands. Compared with Greater London, rent in the South East region was about 600 British pounds cheaper. London property prices continue to increase In recent years, house prices in the UK have been steadily increasing, and the period after the COVID-19 pandemic has been no exception. Prime residential property prices in Central London are forecast to continue rising until 2027. A similar trend in prime property prices is also expected in Outer London.

In January 2025, the average monthly rent in Greater London reached 2,227 British pounds, confirming its position as the most expensive area for private tenants. Rental prices across England stood at 1,375 British pounds, while the average for Great Britain was recorded at 1,332 British pounds. The North East remains the most affordable region, with rents at 710 British pounds. According to the UK Price Index of Private Rents (PIPR), rental growth has accelerated since 2021, with the cost of rental properties rising by nearly nine percent annually in January 2025.

Price to Rent Ratio in the United Kingdom increased to 113.72 in the first quarter of 2025 from 113.62 in the fourth quarter of 2024. This dataset includes a chart with historical data for the United Kingdom Price to Rent Ratio.

United Kingdom PHRPI: UK: excl London data was reported at 109.791 Jan2015=100 in Jul 2020. This records an increase from the previous number of 109.679 Jan2015=100 for Jun 2020. United Kingdom PHRPI: UK: excl London data is updated monthly, averaging 105.347 Jan2015=100 from Jan 2015 (Median) to Jul 2020, with 67 observations. The data reached an all-time high of 109.791 Jan2015=100 in Jul 2020 and a record low of 100.000 Jan2015=100 in Jan 2015. United Kingdom PHRPI: UK: excl London data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.EB015: Private Housing Rental Prices Index: January 2015=100.

The average agreed rent for new tenancies in the UK ranged from *** British pounds to ***** British pounds, depending on the region. On average, renters outside of London paid ***** British pounds, whereas in London, this figure amounted to ***** British pounds. Rents have been on the rise for many years, but the period after the COVID-19 pandemic accelerated this trend. Since 2015, the average rent in the UK increased by about ** percent, with about half of that gain achieved in the period after the pandemic. Why have UK rents increased so much? One of the main reasons driving up rental prices is the declining affordability of homeownership. Historically, house prices grew faster than rents, making renting more financially feasible than buying. In 2022, when the house price to rent ratio index peaked, house prices had outgrown rents by nearly ** percent since 2015. As house prices peaked in 2022, home buying slowed, exacerbating demand for rental properties and leading to soaring rental prices. How expensive is too expensive? Although there is no official requirement about the proportion of income spent on rent for it to be considered affordable, a popular rule is that rent should not exceed more than ** percent of income. In 2024, most renters in the UK exceeded that threshold, with the southern regions significantly more likely to spend upward of ** percent of their income on rent. Rental affordability has sparked a move away from the capital to other regions in the UK, such as the South East (Brighton and Southampton), the West Midlands (Birmingham) and the North West (Liverpool, Manchester, Blackpool and Preston).

United Kingdom PHRPI: England: London data was reported at 108.337 Jan2015=100 in Jul 2020. This records an increase from the previous number of 108.333 Jan2015=100 for Jun 2020. United Kingdom PHRPI: England: London data is updated monthly, averaging 93.794 Jan2015=100 from Jan 2005 (Median) to Jul 2020, with 187 observations. The data reached an all-time high of 108.337 Jan2015=100 in Jul 2020 and a record low of 75.483 Jan2015=100 in Feb 2005. United Kingdom PHRPI: England: London data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.EB015: Private Housing Rental Prices Index: January 2015=100.

Between 2008 and 2024, the average weekly rent for private renters in England has shown a significant increase. In the 2009, the average rent was 153 British pounds, and by 2024, it had risen to 237 British pounds. Excluding London, the average rent started at 130 British pounds in 2009 and reached 191 British pounds in 2024, demonstrating a similar upward trend but at a lower rate compared to the overall average in England. Rental households in England Renting is common in England. Nearly one in five households occupied a dwelling that was privately rented in 2024. While the majority of households in the country live in an owner-occupied home, this percentage has declined since the early 2000s. Meanwhile, the share of households occupying a private rental has doubled over the past decade. This shows a growing rental sector and a shift in tenure trends in the country. Buying vs renting costs For a long time, the average monthly costs of buying a home were lower than renting. In 2021, housing costs started to increase steeply, closely followed by rental costs. This resulted in the gap nearly closing in 2023. This trend can also be observed through the house price to rent ratio - an index that follows the development of house prices relative to rents, with 2015 as a baseline year. Between 2015 and 2022, the ratio grew steadily, indicating that property prices rise faster than rents. However, with rental growth accelerating and catching up with property prices in 2022, the index declined notably.

Regional Price Parities: Services: Rents for Norwich-New London, CT (MSA) was 93.94400 Index in January of 2023, according to the United States Federal Reserve. Historically, Regional Price Parities: Services: Rents for Norwich-New London, CT (MSA) reached a record high of 121.88700 in January of 2008 and a record low of 93.94400 in January of 2023. Trading Economics provides the current actual value, an historical data chart and related indicators for Regional Price Parities: Services: Rents for Norwich-New London, CT (MSA) - last updated from the United States Federal Reserve on August of 2025.

In 2023, the most expensive residential rental market in Europe was London (inner) with rental costs of approximately **** euros per square meter. Dublin and Paris followed with rental costs of **** and **** euros per square meter. Rents increased across most markets - a trend that could also be observed in the housing market. How much does an apartment cost in different European cities? Renting a furnished studio apartment in some of the leading cities in Europe can cost anywhere between *** euros monthly (Budapest) and ***** euros (Amsterdam) per month. For afurnished one-bedroom apartment in Paris, France, one may be expected to pay on average ***** euros monthly. Which countries have the most affordable housing? The house price to rent ratio is an indicator of the affordability of owning housing over renting across European countries and is calculated as the nominal house prices divided by a rent price index. The higher the ratio, the more the gap between house prices and rental rates has widened since 2015 when the index base was 100. As of the fourth quarter of 2021, Finland, Italy, and Belgium had the lowest house price to rent ratio, meaning that buying a house was most affordable there compared to renting.

Indicative weights used in the new Price Index of Private Rents statistics.

英国 PHRPI: England: London在2020-07达108.337 Jan2015=100，相较于2020-06的108.333 Jan2015=100有所增长。英国 PHRPI: England: London数据按月度更新，2005-01至2020-07期间平均值为93.794 Jan2015=100，共187份观测结果。该数据的历史最高值出现于2020-07，达108.337 Jan2015=100，而历史最低值则出现于2005-02，为75.483 Jan2015=100。CEIC提供的英国 PHRPI: England: London数据处于定期更新的状态，数据来源于Office for National Statistics，数据归类于Global Database的英国 – Table UK.EB015: Private Housing Rental Prices Index: January 2015=100。

The industrial real estate sector and West End offices are forecasted to see the highest annualized rental growth in the UK between 2025 and 2029, followed by city offices. According to the forecast, industrial real estate and West End office space rents are expected to grow by *** percent per year in this period, while city office space rents are expected to increase by *** percent. When it comes to total commercial real estate returns in the UK, the industrial and shopping center sectors are forecast to outperform all other property types.