The private rental prices in London, one of the world’s leading residential real estate markets, increased by 1.9 per cent annually, according to information sourced from Office for National Statistics (ONS). This indicates that London continues to remain the preferred hub for HNWIs, business community and retail investors.
ONS’ Index of Private Housing Rental Prices (IPHRP) measures the change in price of renting residential property from private landlords. The index is published as a series of price indices covering Great Britain, its constituent countries and the English regions. All data presented are non-seasonally adjusted and depicts an accurate view of the private housing rental market.
The growth rate for London in the 12 months to February 2017 is 0.2 percentage points below that of Great Britain. The 12-month growth rate of private rental prices paid by tenants in Great Britain fell slightly in February 2017 to 2.1 per cent from 2.2 per cent in January 2017. Rental prices for Great Britain excluding London increased by 2.2 per cent in the 12 months to February.
Private rental prices in the south and east of England are rising at a faster pace than those in the north. The largest annual rental price increases were in the South East (3.3 per cent), unchanged from January 2017. This was followed by the East of England (2.8 per cent) and the South West (2.7 per cent).
If you are interested in acquiring a buy-to-let home for rental income in some of the high growth areas of London, Strawberry Star has several options for you. Call our London office to fix an appointment.
London private rental prices grew by 1.9% in the 12 months to February 2017 - ONS