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Release: Index of Private Housing Rental Prices, September to December 2013 results and development update

Released: 24 January 2014

Contact

Christopher Jenkins

Prices Division

christopher.jenkins@ons.gsi.gov.uk

Telephone: +44 (0)1633 455474

Categories: Economy, Prices, Output and Productivity, Price Indices and Inflation, Housing and Households, Housing Market

Frequency of release: Quarterly

Language: English

Geographical coverage: GB

Geographical breakdown: Region

  • In the 12 months to December 2013 private rental prices paid by tenants in Great Britain rose by 1.0%, down from a 1.1% increase in the 12 months to November 2013.

  • In the 12 months to December 2013 private rental prices grew by 1.0% in England, 1.3% in Scotland  and 1.2% in Wales.

  • In the 12 months to December 2013 rental prices increased in all the English regions, with rental prices paid increasing the most in London (1.6%) and the South East (1.0%).

The Index of Private Housing Rental Prices (IPHRP) measures the change in price of renting residential property from private landlords. The index is published as a series of price indices covering Great Britain, its constituent countries and the English regions.

IPHRP measures the change in price of renting residential property from private landlords, thereby allowing a comparison between the prices tenants are charged in the current month as opposed to the same month in the previous year. The index does not measure the change in advertised rental prices.

IPHRP is released as an experimental statistic. This is a new official statistic undergoing evaluation and therefore it is recommended that caution is exercised when drawing conclusions from the published data as the index is likely to be further developed. Once the methodology is tested and assessed, and the publication meets user needs, 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 is included in the article Index of Private Housing Rental Prices - Historical Series.

The IPHRP is constructed using administrative data. That is, the index makes use of data that is already collected for other purposes in order to estimate rental prices. The sources of private rental prices are Valuation Office Agency (VOA), Scottish Government (SG) and Welsh Government (WG). All three organisations deploy rental officers to collect the price paid for privately rented properties. The sources of expenditure weights are Department for Communities and Local Government (DCLG), Scottish Government, Welsh Government and VOA. DCLG produces estimates of the private rental dwelling stock for England and its regions. Scottish Government and Welsh Government produce estimates of private rental dwelling stock for Scotland and Wales.

New this month

New data for September, October, November and December 2013 are published this month.

User engagement

The IPHRP is classified as experimental statistics and was first published on 26 June 2013. ONS would like to consult with users of the index to evaluate how the current publication meets user needs, and to identify any improvements which may be required to better meet the needs for private rental price statistics. A user feedback questionnaire has been developed and is available via the following link:

https://www.surveymonkey.com/s/78KPZ2H

Please would you take ten minutes to complete the questionnaire, so that ONS can understand how the IPHRP can be improved. The questionnaire will close on Monday 24 February 2014.

Data tables

ONS IPHRP quarterly reference table. (154.5 Kb Excel sheet) This reference table provides full historical monthly tables accompanying the Index of Private Housing Rental Prices statistical bulletin. In this release, both tables 1 and 2 have been updated with the latest estimates for September, October, November and December 2013. 

Content from the Office for National Statistics.
© Crown Copyright applies unless otherwise stated.