Propertymark claims ONS rental data must reflect reality

An industry body is calling for the Office for National Statistics (ONS) data on the private rented sector to reflect the reality of the rental market.

Propertymark has responded to the ONS consultation on the Price Index of Private Rents (PIPR) and raises concerns over the lag in collating and publishing data.

The ONS publishes monthly data on private rents and uses PIPR to measure changes in the price of renting residential property from private landlords. The PIPR is published as a series of price indices and levels covering the UK.

Needs more accurate reflection

In March 2024, the ONS brought together its rental price statistics by replacing the Index of Private Housing Rental Prices (IPHRP) and the Private Rental Market Summary (PRMS) bulletins in England with a new monthly housing statistical bulletin: Private rent and house prices, UK.

Propertymark welcomes the introduction of PIPR as a single UK-wide measure, but said more needs to be done to reflect the reality of the rental market.

The industry body calls for achieved rents, rather than advertised rents, to be used in Scotland and Northern Ireland, arguing this would provide “a more accurate reflection of what tenants are paying rather than what landlords are asking.”

They also call for Northern Ireland data to be brought in line with England, Scotland, and Wales so that trends can be compared consistently across the UK.

Urge ONS to explore ways of accelerating publication

Propertymark also call for more transparency around Rent Officer data collection, including how rents are recorded, why certain properties are sampled, and how the data is used beyond ONS reporting.

The industry body claims affordability measures should be strengthened by publishing more up-to-date income data. Currently, income figures are released only annually, which Propertymark argues “makes it difficult to accurately analyse regional affordability or compare rent levels with local wages.”

The industry body said: “We highlight, whilst recognising, that the biggest barrier to usefulness is the lag between collection and publication. PIPR figures are often several months old by the time they are released, which means they cannot fully support timely decision-making by agents, landlords, or policymakers. We urge ONS to explore ways of accelerating publication, even if only on a provisional basis.”