Residential Rental Price Index for the UK Property Market

With more people now renting property there is a need for a high quality residential rental price index (RRPI). The RRPI gives the tenant the ability to view market trends and average rental prices of property throughout the UK.

Milton Keynes, United Kingdom, July 31, 2006 --( The residential sales market has the house price index which provides a guideline of property sales prices for people looking to buy property. With more and more people now renting property there is no market leading guide to view current market trends and rental values of property.

The RRPI has been developed in order to fill a gap in the market and give the consumer the ability to review the advertised prices of rental property from thousands of property advertised by letting agents throughout the UK. The user can view price trends and drill down to view the average rental value for not only a town area but also to specific property sizes. This not only gives the tenant consumer the informed idea of rental prices in areas they are looking to rent but also can be used by potential landlords who may be looking for buy to let property.

The RRPI currently uses data from thousands of rental property advertised across the Rentright® website. Using the latest xml technology the charts are updated in real time as soon as a property is modified or added to the database ensuring that the figures are kept accurate. Overtime the RRPI will become more sophisticated and provide further filtering facilities to give an even more accurate price guide to the user. More functions will also be available for the registered letting agents of the Rentright® site with drill downs to postcode area and street locations.

Periodically reports will be drawn from the data to review trends and analysis, providing a detailed overview of the market conditions, types of property most commonly available, most expensive areas in the country, cheapest areas in the country and much, much more. The RRPI aims to become the market leading residential rental price index that consumers and industry professionals use to review the property rental market.

Chris Courtis
0870 7669056