The Office for National Statistics has released an experimental longitudinal analysis detailing recent changes in the private rental sector in England and Wales. Here are the key findings:
- Increase in Rental Prices:
- Prices for privately rented properties revisited in September 2023 were more likely to have risen compared to the same period last year.
- Of the revisited properties, approximately one in five experienced a price increase of 10% or more.
- Regional Variances:
- Among English regions, the highest proportion of properties with increased prices was in London, while the North West had the lowest.
- The North West showed the highest average percentage price increase for properties revisited in September 2023.
- Country Analysis:
- The likelihood of prices rising since the last visit was higher for properties revisited between July 2023 and September 2023 than the same period in the previous year.
- In both England and Wales, prices had risen by 10% or more for around one in five properties revisited in September 2023.
- Property Type Impact:
- Flats or maisonettes were more likely to experience price increases than other property types.
- Semi-detached houses in Wales showed the highest average percentage price increase among properties revisited in September 2023.
- Magnitude of Price Rises:
- While the proportion of properties with increased prices was higher in England than in Wales, the average percentage price increase was higher in Wales.
- Around one-fifth of properties in both countries experienced a price increase of 10% or more.
This experimental analysis provides a detailed overview of the changes in the private rental sector, offering insights into regional and property-type variations. Users are encouraged to engage with the data to contribute to the refinement of this analysis.
For more detailed information, refer to the full report on the Office for National Statistics website.