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Erratum

This erratum notice was published on 24 April 2025 as a result of the change set out below. The HTML and PDF have been updated to reflect this change.

In the Key Points section, in the first bullet point under the Private Rental Sector sub-heading, the first half of the sentence has been amended to make clear that the reference is to the growth rate of new-let rents (as per the statistics quoted in the second half of the sentence) rather than the level of new-let rents.

The sentence, which previously read

"Letting agent data indicates that there has been a significant decline in new-let rents: for example, the annual growth rate in the Citylets Rental Index has fallen from a peak of 13.7% in Q3 2023 to 6.2% in Q4 2024."

has been amended to

"Letting agent data indicates that there has been a significant decline in new-let rental growth: for example, the annual growth rate in the Citylets Rental Index has fallen from a peak of 13.7% in Q3 2023 to 6.2% in Q4 2024."