‘Tide Turns’ as Rent Inflation Rate Set to Halve in 2024, Index Suggests

Average rents prices are set to grow much slower, from 9.7 percent now to 5 percent next year, but the increase is still expected to outpace wage growth.

Estate agents To Let and For Sale signs in Islington, north London, on Aug. 12, 2023. Yui Mok/PA

The tide has begun to turn in the rental market with the new lets inflation rate set to halve in 2024, according to Zoopla.

The property website’s tracker shows that the annual rental growth rate for new lets has dropped to 9.7 percent in December, down from 11.9 percent a year ago.