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Pearl Rental Index – January 2017

Blog posted by: Tom Simcock, Jan 24, 2018.

Pearl Rental Index 

We have rounded up all of the latest housing statistics, rental index updates and data on renting from across the sector and compiled them into one easy to digest bulletin.

Headline findings:

  • Rental price growth weakening for Great Britain, with the latest rental index showing rents had increased by 1.2% in the 12 months to December 2017
  • Wales rental growth continuing to strengthen with rental price growth now at 1.7%
  • Consumer Price Index inflation now at 3%

Index Of Private Housing Rental Prices (IPHRP)

The latest Index of Private Housing Rental Prices (IPHRP) shows that private rents increased in Great Britain by 1.2% in the 12 months to December 2017. This figure is down from the previous month of 1.4% and down from 1.8% for the year to August 2017. The rental growth for the year to December 2017 is the lowest annual growth recorded since the IPHRP began in 2012.

Across Great Britain there were varying rental price changes in the 12-month rate to December 2017:

  • England rental prices grew by 1.3%
  • Wales rental prices grew by 1.7%
  • Scotland rental prices grew by 0.4%
  • London rental prices grew by 0.4%

The rental index shows that rental price growth for Great Britain, England and London are continuing to slow. With the slow-down in private rental prices in Great Britain being driven by the London market.

2017 has seen a dynamic uplift in the Welsh rental market with a strengthening in rental price growth and is now out-performing England and London, with solid price growth since November 2016.

In Scotland, rental price growth has weakened since June 2015 and has remained around 0.2 – 0.4% growth since June 2017.

Click here for the full blog post

 

Channel website: https://www.rla.org.uk?ref=wg

Original article link: https://research.rla.org.uk/blog/housing-rental-index/january-2017/

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