Rents Soar by 9 Percent in a Year: ONS

Published on March 21, 2024

The UK lettings market has experienced a historically significant increase in the average cost of rent in the 12 months to February. The Office of National Statistics (ONS) reported on Wednesday that prices increased by 9 percent last month and represented the highest annual percentage change since 2015. Price surges have been recorded across all regions of the country. Renters in England saw a hike of 8.8 percent, with figures for Wales and Scotland reaching 9 and 10.9 percent respectively. For tenants in England this translates to an average monthly rent price of £1,276. London prices were the highest in England at 10.6 percent and lowest in the northeast at 5.7 percent....

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