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And if the company doesn’t find a buyer or refuses to be sold, it will be banned. A rental website is an online marketplace where landlords may list available properties, and renters can look for rental homes. Craigslist is a California-based company that was founded by Craig Newmark in 1995. It offers a wide range of listings, including jobs, housing, for sale, and many more. Because of differences in data collection and housing policy, caution is advised when comparing Scotland's estimates with other areas in England and Wales and within Scotland. More information is available in our PIPR Quality and Methodology Information (QMI).

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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. 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).

UK private rent and house prices

So the Chinese government could let the sale go through potentially, but as a kind of an empty shell, right? The thing that makes TikTok TikTok, the algorithm, wouldn’t be part of the company. So that probably isn’t very appealing for a potential buyer. And when this bill is brought to the full House a week later, it passes by an overwhelming majority.

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Private rent and house prices, UK: April 2024

And a small group sort of works together for a few months, but they realize that in order to really make this law work, they’re going to need Democrats. So they end up working through this House Committee that’s focused on China and competition. And this is where the bulk of the work on this bill takes place. But it’s never been able to shake these concerns around the fact that it has really close ties to China. And lawmakers, for years, have been worried that the Chinese government could somehow use ByteDance and TikTok to get information on Americans or possibly spread propaganda.

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In recent periods, the total transaction volumes and new build volumes available to calculate UK HPI estimates for recent months have been lower than historically. The Office for National Statistics (ONS) and HM Land Registry (HMLR) are working to resolve this. But while the lawmakers are working on this bill, something big happens that kind of changes the politics around it. Among them is Steve Scalise, one of the most powerful Republicans in the House.

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Excluding London, the local area with the highest average private rent in March 2024 was the City of Bristol, South West (£1,748). The average private rent in Great Britain was £1,246 in March 2024, which is £104 (9.1%) higher than 12 months ago. 67% of renters use rental websites to look for properties. These websites help both landlords and renters look for alternatives that meet their requirements. PIPR replaced the Index of Private Housing Rental Prices (IPHRP) and Private Rental Market Summary Statistics (PRMS) in March 2024. PIPR produces rent prices that are comparable over time (unlike PRMS) and publishes at increased geographic granularity than IPHRP.

Figure 4: Average rent annual inflation was highest in London

This new release uses the Price Index of Private Rents (PIPR) to provide more insight into the UK private rental sector and includes headline UK HPI statistics. The rise in Scotland’s annual inflation rate in recent months is more reflective of Scotland’s average house price falling this time last year, rather than increasing in recent months. This is known as a base effect, as explained in our Beware base effects blog. Scotland's average house price fell in winter 2022 to 2023, reaching a low point in February 2023. Scotland's average house price returned to mid-2022 price levels by mid-2023 and has since remained comparatively stable. Housing prices in your area Interactive tool | Released 17 April 2024 Find house prices and private rental prices for local authority areas across Great Britain.

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Avail has a rating of 2.9 out of 5 stars from 10+ users on Trustpilot. HotPads was established in Washington, DC, in 2005 and is owned by Zillow. It also has a personalized dashboard to view your search history and manage your account settings.

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The Price Index of Private Rents (PIPR) is released as official statistics in development, and is subject to revisions if improvements in the methodology are identified. 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. Our new local housing statistics tool summarises the latest private rents and house price statistics for local areas.

Longer-term trends should be considered for lower-level geographic breakdowns, rather than monthly movements. Inflation is the rate at which prices (for renting or purchasing property) rise and fall over time. 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.

But if you remember, the government has been working on this law. And they can justify an infringing of First Amendment rights in certain cases, including with national security concerns. And so it’ll be up to a judge on whether those concerns pass muster and justify this sale and even a potential ban of TikTok. So the law is really trying to push ByteDance, the company that owns TikTok, to sell to a non-Chinese owner. And the company basically has nine months for this sale to happen. There’s an option for President Biden to add another three months to that clock.

And this sets off huge alarm bells for this small group of lawmakers. So this group really wanted to keep this out of the eyes of TikTok, which has a huge lobbying presence in DC, and has successfully worked to kill bills that targeted TikTok in the past. So Sapna, tell me about this law that just passed that potentially bans the social media app TikTok. We’ve seen efforts in the past to rein in TikTok, but this one really seems like the most substantial yet.

Average house prices increased by 1.4% to £178,000 in the year to Quarter 4 (Oct to Dec) 2023 in Northern Ireland. Northern Ireland data are currently available up to January 2024. Average private rent in Northern Ireland increased by 10.1% in the 12 months to January 2024, up from 9.3% in December 2023. This is the highest annual rise since this series began in 2016. Northern Ireland rents data are not available for the latest two months.

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