UK Rent rises by 2.3 per cent, ONS figures show

According to data from the Office for National Statistics (ONS) the cost of renting a home in Britain has increased by 2.3 per cent in the year to September.

It warned that this was a faster rate than the change in the cost of living as recorded by inflation - which was one per cent over the same period. As with previous trends, the rising level of rent was driven by the South East of England, which grew by three per cent.

The research also showed that rent has been rising at a slower rate than house prices.

ONS said: “Residential house price growth in Britain has typically been stronger than rental price growth, with an average 12-month rate of house price inflation between January 2014 and August 2016 of 7.3 per cent, compared with 2.1 per cent for rental prices.”

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