British rental prices up 2.5 per cent year on year
Rents in Britain increased by 2.5 per cent in the 12 months to May, down slightly from the 2.6 per cent annual rise recorded in the previous month, the latest index figures show.
Rental prices grew by 2.6 per cent in England, 0.4 per cent in Scotland and were unchanged in Wales, the data from the Index of Private Housing Rental index published by the Office of National Statistics also shows.
It means that a property that was rented for £500 a month in May 2015, which saw its rent increase by the Great Britain average rate, would be rented for £512.50 in May 2016.
Rental prices for Great Britain excluding London grew by 2 per cent in the same period and rental prices increased in all the English regions over the year to May 2016, with rental prices increasing the most in the South East at 3.4 per cent, up from 3.1 per cent in April 2016.