UK Rent Prices Hit Record Highs as Annual Increases Accelerate

Rents in England surged 9.3% over the past year, with London experiencing the steepest rise at 11.6%, according to official data.

The average monthly rent across the UK reached £1,319 in November 2024, up 9.1% from the previous year, marking a record increase.
London saw the highest rental inflation in the UK, with rents rising 11.6% year-on-year, setting a new record for the capital.
England's average rent climbed to £1,362 per month, with Yorkshire and the Humber experiencing the lowest increase at 5.7%.
The surge in rental prices outpaced house price growth, with UK house prices rising by 3.4% annually as of October 2024.
Experts attribute the rental price hikes to a chronic shortage of housing supply, with demand for rental properties expected to grow significantly over the next decade.