10:03 AM, 17th June 2020, About 2 years ago 6
The Office of National Statistics (ONS) has released its annual report on the private rental market summary statistics England for April 2019 to March 2020. Click here
This report shows the median monthly rental prices for the PRS in England using data from the Valuation Office Agency:
The median monthly rent was £700 for England, recorded between 1 April 2019 and 31 March 2020 and it has not been higher.
London had the highest median monthly rent at £1,425.
The North East had the lowest median monthly rent at £495.
The highest monthly rent was for properties with four or more bedrooms at £1,300 compared with the lowest monthly rent at £400, which was for single rooms.
There was a large difference in median monthly rents between studios at £55 and single rooms at £400, which could have been driven by high volumes of data in the sample of studios located in London and the South East (representing just under half of the sample size).
The interquartile range increased with property size. The spread of rents was greatest for the “four or more bedrooms” category because of the inclusion of very large properties. The correspondingly higher rents of these large properties drove the sharp increase in both median rent and spread of rents in this category compared with three-bedroom properties.
Rental prices and spread of rents tended to be higher in the East and the southern regions of England than in the Midlands and northern regions.
London’s median monthly rent at £1,425 compares to the next highest which was £900 in the South East. The lowest median monthly rent was £495 for the North East.
Rent prices in Inner London tended to be higher than for Outer London. The median monthly rent for Inner London was £1,700, compared with £1,295 for Outer London. Most regions had a similar spread of rents, but London rents had the greatest range of prices of all regions. This reflects the large range of property types and sizes in London and the range in associated rental price.
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