In the five-year period between 2025 and 2029, the prime residential rent for existing properties in Greater London is expected to increase by 17.1 percent. The highest percentage change is expected to occur in 2025 and 2029, when rents are to rise by 3.5 percent. In the UK, rental growth has accelerated notably since 2021, with March 2024 experiencing a decade-high annual percentage growth. The trend reflects the complex interplay between housing affordability, mortgage rates, and supply of rental homes as the UK housing market navigates a period of transition.

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.

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 prime property rental real estate market in Outer London is expected to see an overall increase in rental rates during the ********* period between 2025 and 2029. Over the ********* period, the cumulative prime rental growth is forecast at **** percent. Nationwide, residential rents have soared since 2021, with the annual rental growth peaking at over **** percent in **********.

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.

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.

The prime property rental real estate market in Central London is expected to see an overall increase in rental rates during the five-year period between 2025 and 2029, according to the latest forecast. Over the five-year period, the cumulative prime rental growth is forecast at **** percent. Rent increase in Outer London is expected to follow the same trend.

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

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.

Rental prices in both Greater London and Central London were expected to continue to rise in the period until 2029. Nevertheless, growth will be slower compared to the five-year period up to December 2024. Prime rents in Outer London grew by **** percent in that period and were expected to rise by **** percent until 2029. In Central London, prime residential rents rose by **** percent and were expected to further grow by **** percent. Meanwhile, mainstream residential property prices in the UK are forecast to rise even faster, indicating a strong demand for residential housing.

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.

London Property Prices Dataset 200k+ records Overview This dataset offers a comprehensive snapshot of residential properties in London, capturing both historical and current market data. It includes property-specific information such as address, geographic coordinates, and various price estimates. Data spans from past transaction prices to present estimates for sale and rental values, making it ideal for real estate analysis, investment modeling, and trend forecasting.

Key Columns fullAddress: Complete address of the property. postcode: Postal code identifying specific areas in London. outcode: First part of the postcode, grouping properties into broader geographic zones. latitude & longitude: Geographic coordinates for mapping or location-based analysis. property details: Includes bathrooms, bedrooms, floorAreaSqM, livingRooms, tenure (e.g., leasehold or freehold), and propertyType (e.g., flat, maisonette). energy rating: Current energy rating, indicating the property’s energy efficiency. Pricing Information Rental Estimates: Ranges for estimated rental values (rentEstimate_lowerPrice, rentEstimate_currentPrice, rentEstimate_upperPrice). Sale Estimates: Current sale price estimates with confidence levels and historical changes. saleEstimate_currentPrice: Current estimated sale price. saleEstimate_confidenceLevel: Confidence in the sale price estimate (LOW, MEDIUM, HIGH). saleEstimate_valueChange: Numeric and percentage change in sale value over time. Transaction History: Date-stamped sale prices with historic price changes, providing insight into property appreciation or depreciation. Potential Applications This dataset enables a variety of analyses:

Market Trend Analysis: Track how property values and rents have evolved over time. Investment Insights: Identify high-growth areas and property types based on historical and estimated price changes. Geospatial Analysis: Use location data to visualize price distributions and trends across London. Usage Recommendations This dataset is well-suited for machine learning projects predicting property values, rent estimations, or analyzing urban property trends. With rich details spanning multiple facets of the real estate market, it’s an essential resource for data scientists, analysts, and investors exploring the London property market.

Amount charged by Registered Social Landlord (Private Registered Provider (PRP)) Average Weekly Rents for social housing.

Data is collected by the Housing Corporation via the annual Regulatory and Statistical Return (RSR) based on general needs stock only.

Figures are based on only the larger Registered Social Landlords (RSLs) completing the long form. Upto 2006 the threshold for completing the long form was that the RSL owned/ managed at least 250 units/bedspaces. From 2007 this increased to 1,000 units/bedspaces.

The districts, unitary authorities and counties listed above are based on 1 April 1998 boundaries. Figures for any 'new' re-organised areas have been estimated retrospectively applying the new boundaries back to 1997 and making appropriate assumptions.

Note that the average RSL rents within a local authority area can move down from one year to the next. This is especially true if, during the latest year, most of the LA stock has been transferred through a large-scale voluntary transfer to the RSL sector.

Larger housing associations report the rent they charge in the HCA’s Statistical Data Return.

Data in spreadsheet includes average weekly rents for housing association general needs properties by number of bedrooms, in London by borough (stock owned by larger associations only).

The booming robot rental market is projected to reach significant value by 2033, driven by surging automation demand and flexible rental options. Learn about market trends, key players (like Universal Robots and Robot Rentals), and regional growth in this comprehensive analysis.

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.

United Kingdom PHRPI: England: excl London data was reported at 110.602 Jan2015=100 in Jul 2020. This records an increase from the previous number of 110.486 Jan2015=100 for Jun 2020. United Kingdom PHRPI: England: excl London data is updated monthly, averaging 97.254 Jan2015=100 from Jan 2005 (Median) to Jul 2020, with 187 observations. The data reached an all-time high of 110.602 Jan2015=100 in Jul 2020 and a record low of 85.071 Jan2015=100 in Jan 2005. United Kingdom PHRPI: England: 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).

Number of affordable housing starts (seasonally adjusted)

How the figure is calculated:

Total reported numbers of starts under the relevant programmes within the reporting period. Because delivery is seasonal and reflects funding profiles, with more starts and completions being reported in the second six months than are reported in the first six months, the current figures are compared back to the equivalent period of the year before rather than the preceding six months.

Why is this indicator in the business plan?

These are the most timely indicators on affordable housing delivery. Increasing the supply of affordable housing is a key part of DCLG policy.

How often is it updated?

Bi-annually, approximately June and November.

Where does the data come from?

Homes and Communities Agency (HCA) - Investment Management System and other programme information. Published figures are at http://www.homesandcommunities.co.uk/housing-statistics.

Greater London Authority (GLA) - Investment Management System and other programme information. Published figures are at http://www.london.gov.uk/priorities/housing-land/increasing-housing-supply/gla-affordable-housing-statistics.

What area does the headline figure cover?

England

Are further breakdowns of the data available?

Yes, can be split by type (social rent, affordable rent, intermediate rent, Low Cost Home Ownership) and by local authority area.

What does a change in this indicator show?

An increase in this indicator is good and shows more new affordable houses are being started through the HCA and GLA.

Time Lag

Published within two months of the end of the reporting period.

Next available update

June 2015.

Type of Data

Official Statistics.

Robustness and data limitations

• Does not include all affordable housing starts and completions because some will be delivered outside the HCA and GLA roles.
• Delivery is seasonal and reflects funding profiles. Delivery tends to be lower in the first six months than the last six months of the year and therefore comparisons with the previous six-monthly period are not usually appropriate.
• A small number of the affordable housing starts reported by the HCA over this period are actually located in London (the Get Britain Building programme in London is administered by the HCA on behalf of the GLA).

With effect from 1 April 2014, affordable housing starts on site include the starts on site for new build homes purchased at completion. These have not been reported historically

Links to Further Information

http://www.homesandcommunities.co.uk/housing-statistics

http://www.london.gov.uk/priorities/housing-land/increasing-housing-supply/gla-affordable-housing-statistics

Contact Details

CorporatePerformance@communities.gsi.gov.uk