By The Office of National Statistics
Main points
- Average UK private rents increased by 8.4% in the 12 months to August 2024 (provisional estimate), down from 8.6% in the 12 months to July 2024.
- Average rents increased to £1,327 (8.5%) in England, £752 (8.5%) in Wales, and £969 (7.6%) in Scotland, in the 12 months to August 2024.
- In Northern Ireland, average rents increased by 9.9% in the 12 months to June 2024.
- In England, rents inflation was highest in London (9.6%) and lowest in the South West (6.4%), in the 12 months to August 2024.
- Average UK house prices increased by 2.2% to £290,000 in the 12 months to July 2024 (provisional estimate); this annual growth rate is down from 2.7% in the 12 months to June 2024.
- Average house prices increased in England to £306,000 (1.6%), in Wales to £218,000 (2.0%), and in Scotland to £199,000 (6.0%), in the 12 months to July 2024.
Commenting on today’s house price data for July and rents data for August, ONS Head of Housing Market Indices Aimee North said:
Annual house price growth slowed this month. The North East saw the highest annual growth while London was the only region to show annual price falls.
Rental prices continue to climb at a near-record rate, although the pace of the increase has slowed slightly. London again saw the fastest growth in rents, with the slowest rise in the South West of England.
ENDS
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