UK-wide private rental index needed, claims advisor
The rental market needs its own ‘raft of statistics’ so experts and consumers can better analyse the sector, claims the Government’s principal official statistics advisor Jil Matheson.
Reported by independent.co.uk, Matheson believes the absence of a private rental index was a ‘key gap’ in the country’s analysis of the housing market, and more should be done to join up official housing market statistics. This way, the index can help people spot ‘underlying trends more easily’.
Current quarterly private rental figures published by the Valuation Office Agency (VOA) do not go far enough. It has been suggested these should be combined with sources from Scotland, Wales and Northern Ireland to provide a comprehensive UK-wide index, which could interest those looking for properties to rent across the UK.
A range of institutions rely on housing figures to buy, rent or sell a home, but it can be hard ‘to work out what statistics are available and to piece them together’, according to Matheson’s report – and there should be at least one a year explaining key trends.
Matheson commented further on the need for an index to Press Association: “The housing market affects everyone in the UK in some way.
“Good quality statistics are essential for making informed decisions on housing, from central government planning to private individuals deciding whether to move, rent or buy,” she added.