Propertymark, the letting agents’ professional body, is demanding a fundamental reform of how rental figures are calculated across the UK. In its response to an Office for National Statistics (ONS) consultation on the Price Index of Private Rents (PIPR), Propertymark called for a consistent, UK-wide approach to data collection.

Key areas for improvement include:

• Using achieved rents: Propertymark argues that all rental bodies should use the rent that tenants actually pay, not just the advertised asking price.
• Faster data: The organization is calling for more up-to-date income statistics to allow for a better analysis of affordability, particularly in local and regional markets.
• Clearer methodology: Propertymark wants clearer, more accessible explanations of how rental data is collected and calculated to increase transparency and make the index more widely understood.
• UK-wide consistency: The body is advocating for Northern Ireland’s data to be brought in line with England, Scotland, and Wales to allow for consistent comparisons.

The guidance aims to ensure that rental data used for things like Local Housing Allowance rates is based on accurate, real-world figures.