There is an unjustifiable lack of data relating to rental properties in the UK property market, meaning that published rental statistics are just guess work according to top UK statistician, Jil Matheson
Jil Matheson, the UK’s most senior statistician, said that the absence of an official private rental index covering the whole of the UK represents a key gap in the analysis of the property market.
She also believes that more could be done to link up official data from a wide range of bodies so that rental statistics and positive trends in the UK buy to let market can be more easily identified.
The Valuation Office Agency (VOA) publishes private rental figures every quarter but these cover England only and the national statistician argues that the problem with non-official figures is that they are often not sufficiently broken down and fail to provide accurate rental statistics.
Ms Matheson suggested that a monthly UK-wide index could be created by combining the VOA figures with data from sources in Scotland, Wales and Northern Ireland, providing a clearer picture of the state of the UK rental market as a whole.
Rental prices have continued to increase significantly over the past year as would-be homebuyers have been forced to rent property as they have struggled to get on the property ladder due to stricter qualifying criteria and higher deposits demanded by banks and mortgage lenders.
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