Private rental prices rose by a nationwide average of 6.2% in the 12 months to November 2023, up from 6.1% in the 12 months to October 2023.
Although 6.2% is a provisional estimate according to the latest data released on December 20 2023, it is the largest annual percentage change since the data series began in January 2016. The second highest increase was in the previous month, October 2023.
Annual private rental prices increased by 6.1% in England, 7.3% in Wales, and 6.2% in Scotland in the 12 months to November 2023.
At 6.9%, London experienced the highest annual percentage change in the 12 months leading up to November 2023. This is the highest annual rate since the London data series began in January 2006.
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.