The latest findings
The latest DPS Rent Index shows that average rents have increased in the UK by 6.13% in the last 12 months, now standing at £849, up from £800.
Across the UK, the picture is one of strong rental growth, with all regions registering an increase in average rents, and 10 of the 12 regions experiencing increases of over 4%.
“Consistent quarterly rent rises – coupled with survey results that suggest that a proportion of tenants are overpaying to secure a property – underlines the current intense demand for, and tight supply of, rental homes in the UK.
“Rents in London are also rebounding strongly, with average rents for flats in the capital increasing by £111 or just under nine per cent during the past twelve months – more than three times the falls seen during 2020, when tenants perhaps sought out more spacious homes outside of the Capital.
“Accelerating rents for flats could signal the beginning of the end of the pandemic trend of renters leaving cities.”
Matt Trevett, Managing Director, The DPS
The largest and most reliable indicator of rental trends in the UK is here
In November 2017, we released the first ever DPS Rent Index TM. As the largest provider of deposit protection in the UK, we have a unique insight into the Private Rented Sector (PRS). Our database of domestic private rental prices across Britain is the largest of its kind. It's the most reliable indicator of rental trends in the UK. This means it can inform the rental housing market, shape public policy and investor decision-making, in the same way that house price indices do for the owner-occupied housing market.
Made with industry experts you can trust
We want to become thought leaders in the market and create an index that stands up to the highest standards of analysis and scrutiny. Working with leading economists, Professor Joe Nellis and Professor Catarina Figueira to produce the index gives us a trusted voice in the industry.
Since it was first published, the Rent Index has been quoted in Reuters, Property Eye and the New York Times.
A decade's worth of data - simplified
The DPS Rent IndexTM contains the average monthly rent in 12 regions of the UK. This is then broken down into the various property types to give a fair view of how much a property costs to rent. There is also information on what percentage of their salary tenants spend on rent. All this came from analysing data from millions of properties across the country over the past decade.
Produced every quarter – keeping you informed
The elements that can make the rental market fluctuate are changing every day. Over the last 10 years, there's been a trend of rents increasing on an annual basis, despite the global financial crisis. This is why every quarter we produce a new rent index to ensure you have the latest data and figures available.
To find out more about the Rent Index, send us your thoughts or suggestions, please head to our contact page.