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Private rentals and house prices in Cornwall – an update

rpwills
On May 22nd, the Office for National Statistics released the latest bulletin on private rent and house prices. Details on rents below.
 
“Main points
Average UK private rents increased by 8.9% in the 12 months to April 2024 (provisional estimate), down from 9.2% in the 12 months to March 2024. 
 
Average rents increased to £1,293 (8.9%) in England, £730 (8.2%) in Wales and £952 (10.0%) in Scotland, in the 12 months to April 2024. 
 
In Northern Ireland, average rents increased by 10.4%, in the 12 months to February 2024. 
 
In England, rents inflation was highest in London (10.8%) and lowest in the North East (5.8%), in the 12 months to April 2024.
 
In Great Britain, average rent was highest in Kensington and Chelsea (£3,356) and lowest in Dumfries and Galloway (£477). 
 
Average monthly private rents vary across local authorities in England and Wales, and Broad Rental Market Areas in Scotland. In April 2024, the average rent was highest in Kensington and Chelsea, London (£3,356), and lowest in Dumfries and Galloway, Scotland (£477). Excluding London, the local area with the highest average rent in April 2024 was Elmbridge, South East (£1,765).”
 
Average private rents rose in Cornwall
The average monthly private rent in Cornwall was £885 in April 2024. This was an increase from £858 in April 2023, a 3.2% rise.

 

Sources
Office for National Statistics, May 2024, Private rent and house prices, UK: May 2024, Statistical Bulletin.
 
[The Price Index of Private Rents (PIPR) measures private rent inflation for new and existing tenancies. The UK House Price Index measures house price inflation.]
 
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