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UK Rental Price Increases December 2016-2023 by Region

united-kingdomregioncost-of-livingrent
Cost of Living
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a month ago
UK-GOV

UK Private Rental Price Increases 2016-2023 - December Update

Insights:

  • Private rental prices rose by a nationwide average of 6.2% in the 12 months to December 2023, the same figure in the 12 months to November 2023.
  • 6.2% is the joint-largest annual percentage change since the data series began in January 2016. This record was matched in the previous month, November 2023.
  • Annual private rental prices increased by 6.1% in England, 7.1% in Wales, and 6.3% in Scotland in the 12 months to December 2023.
  • At 6.8%, London experienced the highest annual percentage change within England in the 12 months leading up to December 2023.
  • The percentage is based on the The Index of Private Housing Rental Prices (IPHRP), which measures the change in the price that tenants face when renting residential property from private landlords.