Average monthly rental costs in Great Britain 2005-2024, by region

Published by Statista Research Department, Oct 8, 2024

Private rents in Great Britain have increased notably since 2005, reaching the highest values on record in 2024. In February 2024, the average monthly rent in London stood at 2,035 British pounds, making it the most expensive region for private tenants. Conversely, the North East was the most affordable region, with the monthly rent costing under 660 British pounds. According to the UK Price Index of Private Rents (PIPR), rental growth has accelerated since 2021, with the cost of rental properties rising by nearly nine percent between July 2023 and July 2024. 

Average monthly rental prices in Great Britain from January 2005 to February 2024, by region (in GBP)

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Source

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Release date

March 2024

Region

United Kingdom (Great Britain)

Survey time period

January 2005 to February 2024

Supplementary notes

This statistic is using original data from the Office for National Statistics and includes copyright material from © Crown, licensed under the Open Government License v3.0

Not seasonally adjusted.

Rent price levels are estimates based on the PIPR index (index level January 2023 = 100).

Rent prices have a methodology break between December 2014 and January 2015. The source advises users to interpret trends before 2015 with caution. 

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