Tenants confronted the steepest hikes to non-public rents for a seventeenth consecutive month in August, in response to official figures charting continued development throughout Britain.
The Office for National Statistics (ONS) measured rental costs rising at a price of 5.5% within the 12 months to August.
That was up from the 5.3% within the yr to July.
Cost of dwelling newest: Inflation falls in ‘one of many largest undershoots versus expectations’
Wales noticed the strongest leap over the annual interval – operating at 6.5%.
Scotland’s was operating at 6%, whereas common costs paid by tenants stood at 5.4% in England, the ONS mentioned.
It added London’s price stood at 5.9% – not seen since its knowledge sequence for the capital started in 2006.
Wider home worth knowledge, which lags the rental figures, confirmed a continued slowdown within the annual price of development to only 0.6% UK-wide over the 12 months to July.
Both the home worth and rental knowledge replicate the influence of rising borrowing prices.
ONS Head of Housing Market Indices, Aimee North mentioned: “Annual house price inflation, measured using final transaction prices, slowed in July, with negative annual inflation in the South West and London.
“Annual inflation for UK rental costs continues to rise, setting a file excessive for the seventeenth month in a row.
“Wales is seeing the largest annual price growth nationally, while London rents continue their record-breaking surge.”
This breaking information story is being up to date and extra particulars might be revealed shortly.
Please refresh the web page for the fullest model.
You can obtain Breaking News alerts on a smartphone or pill through the Sky News App. You also can comply with @SkyNews on X or subscribe to our YouTube channel to maintain up with the newest information.
Source: information.sky.com”