Rental prices in seven regions of Great Britain are increasing at the fastest rates on record. The North West, East Midlands, West Midlands, South West, East of England, Scotland, and Wales are all experiencing record rises.
Private rents in the East Midlands were 4.3% higher in July 2022 than they were 12 months earlier, according to figures released by the Office of National Statistics. That’s the highest year-on-year increase of any region in the UK.
It’s also the region’s highest increase of any month since comparable records began in 2006, and is more than double the 2.1% increase in the equivalent month in 2019, before the Covid-19 pandemic began. Record rent rises also took place in July 2022 in the East of England (4.1%), the North West (4.0%), the West Midlands (3.3%), Scotland (2.7%), and Wales (2.1%).
