The average UK private rent increased by 9.1% in the 12 months to November 2024, according to provisional data. This marks a rise from the 8.7% annual increase recorded in October 2024.

In England, average rents rose by 9.3% to £1,362. Wales and Scotland saw increases of 8.0% (£772) and 6.5% (£980), respectively, over the same period. In Northern Ireland, the most recent data showed a 9.0% rise in rents for the year to September 2024.

Within England, London experienced the highest annual rent inflation at 11.6%, while the lowest regional increase was in Yorkshire and The Humber at 5.7%.

In the housing market, average UK house prices rose by 3.4% to £292,000 in the 12 months to October 2024, based on provisional figures. This represents an increase from the 2.8% annual growth rate observed in September 2024.

By region, house price increases varied. In England, the average price rose to £309,000, representing a 3.0% increase. In Wales, prices grew by 4.0% to £222,000, while Scotland saw a 5.5% rise to £197,000.

These figures highlight the ongoing upward pressure in both the rental and housing markets, with notable regional variations in growth rates across the UK.