Private rents in the UK went up by 2.6% in the year to March 2016, according to the latest Office of National Statistics figures. The figures themselves are percentages and not actual rental prices.
Rents were up by 2.8% in England, 0.2% in Wales and 0.6% in Scotland, according to the ONS.
Prices rose across all English regions and were up by the most in London at 3.7%, where annual rental price growth has been stronger than the rest of England since November 2010.
Prices for the UK with London stripped out show an overall increase of 2% in rental prices in the 12 months to March.
In England, after London, the biggest annual increases were seen in the east at 3% and the south-east at 2.9%.
The lowest annual increases were in the north east at 0.8%, followed by the north west at 1% and Yorkshire and the Humber at 1.2%.
The ONS said conditions in the housing market overall may be supporting rental price growth but house price growth has been stronger than rental price growth for a number of years.
The ONS cited the RICS’s March report which noted that tenant demand grew for the 15th month in a row but warned that strong demand was being outweighed by shortage of supply.
In greater Belfast we have experienced a significant increase in rents particularly within the last year. Some properties on our books have risen by 10%. This appears to be simply down to demand-supply.
