The private rental prices in London grew by 1.6 per cent in the last one year, latest data published by the Index of Private Housing Rental Prices (IPHRP), shows. Overall, the private rental prices grew by 2.1 per cent across England.
The 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.
The private rental prices have been growing historically in London and Great Britain. The private rental prices in Great Britain increased by 14.5 per cent between January 2011 and March 2017, strongly driven by the growth in private rental prices within London. When the capital is excluded, private rental prices increased by 10.4 per cent over the same period.
Within England, the private rental prices in the south and east are rising at a faster pace than those in the north. The largest annual rental price increases were in the South East (3.4 per cent), up from 3.3 per cent in February 2017. This was followed by the East of England (2.8 per cent), the East Midlands (2.5 per cent), and the South West (2.5 per cent), in February 2017.
Residential properties in London continue to provide attractive rental income. Strawberry Star has several interesting residential units in London that offers assured rental income. If you are interested in viewing any of these properties, connect with our London office.
London private rental prices grew by 1.6% in the 12 months to March 2017