Summary
Launched in 2009 the Rent Index aims to provide a real time measurement of average UK rents in the private residential sector. The Index is updated throughout the day and is published by Welland Media, which owns the landlord services website Property Hawk. The typical sample size is around 2,000.
Data
The index gives an average rent for property in England and Wales as well as a percentage change over the last month, three months, six months and year. The index is also available in graph form comparing the average price change over the last 90 days shown in red against a 12-month trend line shown in blue.
Method
The average rent is calculated from agreed rents that are submitted on tenancy agreements from landlords using the Property Hawk website over a 90 day period. The figures are not adjusted to take into account seasonal variations.
Advantages
- With regular daily updates this offers the most up to date average rental price of any UK rental index.
- Its red and blue line graph is a useful way of comparing current fluctuations in prices with seasonal variations.
Disadvantages
- With around 2,000 properties the sample size is among the smallest of any rental price index.
- The information available is limited to comparisons of the average rent with no detailed analysis to accompany the figures.
- Only gives a figure for England and Wales as a whole without any regional breakdown.
Verdict
With its real time updates Rent Index is the most up to date rental price index in the UK. But its small sample size, lack of analysis or regional information makes it among the less detailed available.
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