Experimental Statistical Data Released For January To March 2014 For Rental Prices Paid By Tenants In UK Private Rental Sector
The office for National Statistics (ONS) have released experimental statistical data covering the change in rental prices paid by tenants in the UK’s private rental sector (PRS).
Private rental prices paid by tenants in the UK increased 1.0% in the 12 months to March 2014, unchanged from a 1.0% increase in the 12 months to February 2014.
- In the 12 months to March 2014 rental prices in the private rental sector increased by:
- 1.0% in England
- 1.3% in Scotland
- 0.6% in Wales
- Rental prices increased in all UK regions over the year to March 2014, with rental prices increasing by the most in London reaching 1.4%
The Index of Private Housing Rental Prices (IPHRP) measures the change in price of renting property in the UK’s private rented sector and is published as a series of price indices covering UK regions.The data allows a comparison between the actual rents tenants are charged in the current month as opposed to the same month in the previous year, but the index does not measure the change in the advertised asking prices for rental properties in the PRS.
The data is part of a new experimental statistical analysis that is currently undergoing evaluation and conclusions drawn from the data should be viewed with caution as the index is likely to be further developed once the methodology is tested and assessed, and the publication meets user needs, then the IPHRP will be assessed against the Code of Practice to achieve National Statistic status.
A complete description of the methodology and the sources used in the IPHRP can be viewed here – Index of Private Housing Rental Prices – Historical Series.
The IPHRP data makes use of administration data that is already collected for other purposes in order to estimate rental prices.
The sources of private rental prices are:
All three organisations collect data on the rents paid by tenants for privately rented properties.
The sources of expenditure weights are:
- Department for Communities and Local Government (DCLG)
- Scottish Government
- Welsh Government
DCLG produces estimates of the private rental housing stock for England and its regions, whilst the Scottish and Welsh Government’s produce estimates of private rental housing stock for Scotland and Wales.
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