This chart shows the annual rate of change in private rents in Preston from January 2016 to January 2025, based on the Price Index of Private Rents published by the Office for National Statistics (ONS).
The data tracks how average rents for existing tenancies change year-on-year, rather than headline asking prices for new lets. As such, it provides a useful indicator of underlying rental inflation rather than short-term market spikes.
Several features are apparent:
- Between 2016 and 2020, rent inflation in Preston was relatively modest and broadly stable, generally below long-term national averages.
- From 2021 onwards, the rate of increase accelerates sharply, reflecting wider post-pandemic pressures in the private rented sector.
- By 2023–2024, annual rent inflation in Preston converges with, and at points exceeds, regional and national benchmarks.
- Into early 2025, the data suggests elevated annual increases remain embedded, albeit with some month-to-month variation.
This series is included as contextual evidence for understanding recent changes in housing costs affecting residents and landlords locally. It does not attempt to explain causes or predict future movements.
Source: Office for National Statistics – Price Index of Private Rents
Coverage: Preston; January 2016 to January 2025
URL: https://www.ons.gov.uk/visualisations/housingpriceslocal/E07000123/
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