Residential Rents in England rise 9.3% Year-on-Year to November 2024
Real Estate

Residential Rents in England rise 9.3% Year-on-Year to November 2024

The average rent for residential properties in England rose at its fastest annual pace on record. The data also indicated an increase in house prices.

The Office for National Statistics (ONS) reported that private sector rents in England increased by 9.3 per cent, reaching an average of 1,362 pounds in the 12 months leading up to November. This marked the largest rise in records dating back to 2015.

The increase in rents was primarily driven by an 11.6 per cent jump in London. Nationwide, rents across the United Kingdom were 9.1 per cent higher than the previous year.

Additionally, British house prices saw a 3.4 per cent increase on an annual basis in October, which was faster than the downwardly revised 2.8 per cent rise observed in September, as reported by the ONS.

Other recent housing market indicators also revealed the fastest annual increase in house prices in two years. The rise in rents was attributed to the growing demand for homes, which far outpaces the available supply. This is an issue the new Labour government aims to address by accelerating planning approvals for new property construction.

The average rent for residential properties in England rose at its fastest annual pace on record. The data also indicated an increase in house prices. The Office for National Statistics (ONS) reported that private sector rents in England increased by 9.3 per cent, reaching an average of 1,362 pounds in the 12 months leading up to November. This marked the largest rise in records dating back to 2015. The increase in rents was primarily driven by an 11.6 per cent jump in London. Nationwide, rents across the United Kingdom were 9.1 per cent higher than the previous year. Additionally, British house prices saw a 3.4 per cent increase on an annual basis in October, which was faster than the downwardly revised 2.8 per cent rise observed in September, as reported by the ONS. Other recent housing market indicators also revealed the fastest annual increase in house prices in two years. The rise in rents was attributed to the growing demand for homes, which far outpaces the available supply. This is an issue the new Labour government aims to address by accelerating planning approvals for new property construction.

Next Story
Resources

Ajmera Realty launches tree drive on Environment Day

Ajmera Realty & Infra India marked World Environment Day with a large-scale tree plantation initiative—Plant-with-Purpose—across its projects in Mumbai and Bangalore. The drive was inaugurated at Ajmera Manhattan and Ajmera Greenfinity in Wadala, with senior company officials and residents in attendance. The campaign encourages residents to embrace eco-conscious, self-reliant lifestyles by growing useful plants and trees within their communities. Horticulture expert Devendra Bhekar guided residents on creating and maintaining green spaces. Ajmera Realty planted over 500 trees..

Next Story
Resources

Twaron®-reinforced tyre powers Brunel’s solar race car

Teijin Aramid’s Twaron® with circular content will debut in Bridgestone’s race tyres for the 2025 Bridgestone World Solar Challenge, supporting the Brunel Solar Team’s Nuna 13 car. This marks the first use of the recycled-content aramid in a high-performance race tyre. The Twaron®-reinforced belts help enhance durability, reduce rolling resistance, and maintain lightweight strength—critical for the 3,000-km solar race across Australia. Bridgestone combines this with ENLITENTM tech and other recycled inputs to maximise environmental and performance outcomes. Teijin Aramid, a..

Next Story
Building Material

Kamdhenu Paints launches new wood coating range

Kamdhenu Paints has launched a comprehensive premium wood coating range designed for both interior and exterior applications. The collection includes high-performance solutions like Kamwood 2K PU for a rich matt or high-gloss finish, Kamwood 1K PU for clarity and stain protection, and the Kamwood Melamyne system for a smooth, durable finish. Also featured are Kamwood Wood Stains, which enhance wood grains with vibrant colour, and NC Sanding Sealer for high-build grain filling. The range is supported by Kamwood Thinners for ease of application and optimal finish. Saurabh Agarwal, MD, ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?