Table Of Content
Here are some factors you need to consider when selecting the best renting websites.
Administrative data
In March and April 2024, UK HPI estimates were revised from January 2021 onwards by making use of price data processed outside the UK HPI's normal 12-month revision period. Users should be aware that revisions may be larger than usual and should note the significantly greater uncertainty around new build prices. UK HPI will now return to the usual 12-month revision period for future releases.
Northern Ireland
The Office for National Statistics (ONS) and HM Land Registry (HMLR) are working to resolve this. See updated listings every day, search with tailored filters, and contact property managers—all from one place. Zillow has the most rental listings and receives the most web traffic. However, it has been criticized for its high fees and poor customer service. It offers a search engine with features like search filters, neighborhood guides, and rental history checks. However, HotPads is a syndication site, which means that the listings are aggregated from other websites.
Figure 3: The average rent annual inflation for England rises above the rate for Wales
Annual rents inflation was lowest in the North East, at 6.1% in March 2024. This was up from 5.7% in February 2024, and represents the joint-highest annual percentage change since this series began in January 2006. Because of this imbalance, their respondents continue to expect rents to rise over the coming months. UK monthly rent estimates for the latest two months and UK HPI estimates for the latest 12 months are provisional and subject to revision. All statistics are non-seasonally adjusted estimates, unless explicitly stated otherwise. RentCafe reports most of the 45,400 BTR homes currently being constructed will open their doors next year.
Each subsequent month, updated Northern Ireland data are used to revise estimates for the UK. This means that there is a two-month revision period for the UK series in PIPR. By chain-linking the IPHRP (pre-2015) and PIPR (2015 onward) indices together, we have published a full historical series for the UK, Great Britain, its countries and English regions. Series begin in January 2005 for England, January 2009 for Wales, January 2011 for Scotland, and January 2015 for Northern Ireland and the UK. We advise caution when comparing pre-2015 trends with later estimates because of the methodology change in January 2015.
UK private rent and house prices
Average private rent for England was £1,285 in March 2024, up 9.1% (£107) from a year earlier. This is the highest annual rise since this series began in 2006 and was up from 8.8% in February 2024. Average UK house prices decreased 0.2% (provisional estimate) in the 12 months to February 2024, to £281,000. This was up from a decrease of 1.3% in the 12 months to January 2024 (revised estimate). These websites help both landlords and renters look for alternatives that meet their requirements. The Cost of Living (Tenant Protection) Scotland Act capped in-tenancy rent price increases at 0% (and up to 3% in certain circumstances) from September 2022 until 31 March 2023.
Currently, average private rent is published for Great Britain, but not for the UK. We aim to publish average rent prices for the UK and Northern Ireland in March 2025. We aim to include Northern Ireland in the Price Index of Private Rents (PIPR) in March 2025.
Between 1 April 2023 and 31 March 2024, this rent price-increase cap was 3% (and up to 6% in certain circumstances). From 1 April 2024, temporary changes to the rent adjudication system restricts rent increases for existing tenants who apply for rent adjudication. The PIPR and the IPHRP use the same administrative rent price data.
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The metro had a total of 262 units, and is now readying another 2,500. The largest number of new BTR homes last year were constructed in the Phoenix metro area, where more than 4,000 units were completed. Dallas came in second with almost 2,700 and Atlanta was third with approximately 1,980. Austin and Charlotte, with 840 and 714 respectively, were the next metros on the list.
Still, most envision a bright future for BTR, especially given Millennials’ desire for home ownership, even if it comes with a monthly rent payment rather than a mortgage expense. Zumper is an excellent rental website and has an average of 7 million monthly users. HotPads was established in Washington, DC, in 2005 and is owned by Zillow.
After evaluating hundreds of websites, we have selected the 7 best rental websites in America for you to choose from. We are investigating the feasibility of extending the time-series back further. The full UK House Price Index report and monthly data are published by HM Land Registry. While BTR is concentrated in the Sunbelt, the phenomenon is by no means limited to that region. Detroit came in sixth on last year’s list, with 651 completed, followed by fellow Midwestern markets Kansas City, Mo. with 636 BTR homes finished in 2023, and Columbus with 625 homes completed. Even more striking, 41% of all BTR homes, or about 68,000 homes, were constructed in just the last half decade.
After that, the pace of new completions is likely to moderate, the nationwide apartment listing service observed. Anyone prepared to argue there’s really nothing new under the sun in the U.S. housing market hasn’t glimpsed RentCafe’s annual Build-to-Rent Construction Report, out just last week. The niche comprised of single-family houses built expressly to be rented has established its fifth straight yearly record, with more residences than ever being constructed.
Price Index of Private Rents (PIPR) measures private rent inflation for new and existing tenancies. However, it could be difficult to fill your vacant house in this market. If, you are not able to rent your property, sell it as the home prices are rising. Selling with a Flat Fee company like Houzeo makes it a simple and affordable process. Interchangeable with "annual inflation" (or "annual growth", if positive).
Our new local housing statistics tool summarises the latest private rents and house price statistics for local areas. In the 12 months to February 2024, average house prices decreased in England to £298,000 (negative 1.1%), decreased in Wales to £211,000 (negative 1.2%) and increased in Scotland to £188,000 (5.6%). Average house prices increased by 1.4% to £178,000 in the year to Quarter 4 (Oct to Dec) 2023 in Northern Ireland. Average private rent in Northern Ireland increased by 10.1% in the 12 months to January 2024, up from 9.3% in December 2023. Northern Ireland rents data are not available for the latest two months. To produce provisional UK statistics, Great Britain's inflation rate for the latest two months has been used to estimate Northern Ireland's inflation rate in this period.
This means that a large proportion of data for Brent are from recent months. Since UK rents have been rising at a record-high pace for more than a year, this has led to a sharp increase in the estimated rent price for Brent recently. In England and Wales, achieved rents data are collected for both new and existing tenancies. Rent Officers receive a notification 12 months after a property's last update, supporting their aims to revisit properties. Annually, over 450,000 private rent prices are collected in England and around 30,000 in Wales, 40,000 in Scotland, and 15,000 in Northern Ireland.
For more information, see our Measuring the UK housing market blog post. Average UK private rent increased by 9.2% in the 12 months to March 2024 (provisional estimate). This was up from 9.0% in the 12 months to February 2024 (revised estimate) and represents the highest annual percentage change since this UK data series began in January 2015. Average private rent for Wales was £727 in March 2024, up 9.0% (£60) from a year earlier. This annual rise was unchanged from the 12 months to February 2024, but remains below Wales's record-high annual rise of 9.8% in November 2023, which was the highest annual rise since this series began in 2010.
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