ONS Introduces New Tool to access Housing Market Data
The ONS has introduced a new tool which brings together the latest average house prices and monthly private rental prices for local areas, and how they have changed over time.
This is a new product in Beta release, intended to improve the accessibility of housing market data at local level.
Click on this link for detailed data
Understanding Rent Increases in the Private Rented Sector
Navigating rent increases in the private rented sector can be challenging for both Landlords and Tenants. With rising housing costs and changing market conditions, it's essential to understand the legal process and best practice when dealing with rent.
In England, rent increases in the private rented sector are governed by several pieces of legislation, most notably:
Housing Act 1988
Tenant Fees Act 2019
Consumer Rights Act 2015
ONS - Index of Private Housing Rental Prices, UK: February 2023
Over the last 12 months there has been a lot of discussion surrounding rent increases on the private rented sector. Many landlords took the decision not to increase rent during the Pandemic or post Pandemic, however, due to the cost living crisis, the cost of energy and increases in interest rates, landlords took the decision to increase rents.
Landlords are permitted to increase rent at the end of every 12-month term. This can be done by relying on the rent review clause found in the tenancy agreement. If the tenancy is periodic and the tenancy is silent on rent increases, the landlord must serve a Section 13(2) notice (Form 4).
Importantly, a discussion with the tenant before increasing rent would be sensible as this allows both landlrod and tenant to negotiate on an increase which suits both parties.