In March 2024, the average private rent in Great Britain stood at £1,246, marking a £104 (9.1%) increase compared to the previous year.
England’s average private rent reached £1,285 in March 2024, showing a 9.1% (£107) rise from the previous year. This surge represents the highest yearly increase since data collection began in 2006, up from 8.8% in February 2024.
The average private rent in Wales was £727 in March 2024, reflecting a 9.0% (£60) increase from the previous year. Although this yearly increase matches the rate seen in the 12 months leading to February 2024, it remains below the record-high annual rise of 9.8% in November 2023, the highest since data collection began in 2010.
Scotland recorded an average private rent of £947 in March 2024, marking a 10.5% (£90) increase from the previous year. This figure represents a slight decrease from the 10.9% annual increase observed in February 2024. Scotland’s annual inflation rate has been gradually declining since reaching a record high of 11.8% in August 2023, the highest since data collection began in 2012. Learn about how much stamp duty is in Scotland with our free guide.
As for Northern Ireland, data is available up to January 2024. The average private rent in Northern Ireland saw a 10.1% increase in the 12 months leading to January 2024, up from 9.3% in December 2023. This marks the highest annual rise since data collection began in 2016.
For more information on the UK buy-to-let landscape, see some of our recent buy-to-let area guides:
