United Kingdom · NACE L6820 · UK SIC 68.2
Property rental market size in the UK
The property rental market in the UK was worth £58.7bn[3] in 2024, measured by the total turnover of businesses in the industry (£58,747 million).
Official figure Office for National Statistics · reported · high confidence
Official industry: Renting and operating of own or leased real estate (NACE L6820).
What this figure measures
The total turnover of businesses whose main activity is this industry, from official business statistics. It's the industry's sales, including exports and excluding VAT. It isn't the same as what customers in the UK spend on these products, which would also include imports.
Turnover, 2020 to 2024
| Year | Total turnover | Status |
|---|---|---|
| 2020 | £42,062 million[3] | Reported |
| 2021 | £45,539 million[3] | Reported |
| 2022 | £49,285 million[3] | Reported |
| 2023 | £53,121 million[3] | Reported |
| 2024 | £58,747 million[3] | Reported |
Latest signal: 2025
No official United Kingdom turnover growth for 2025 has been published for this industry or its wider industry yet.
Key figures, 2024
| Approximate gross value added | £36,672 million[3] |
| Enterprises | 66,376[3] |
Compared with other countries, 2024
| Country | € million |
|---|---|
| United Kingdom | 69,390[3][1] * |
| Germany | 93,558[2] |
| France | 65,371[2] |
| Spain | 25,481[2] |
| Italy | 27,901[2] |
* United Kingdom: GBP converted at the 2024 annual average rate, 1 EUR = 0.84662 GBP. Derived from the official GBP figure.
Common questions
What is the market size of the property rental industry in the UK?
£58.7bn in 2024[3], measured by the total turnover of businesses in the industry, according to the Office for National Statistics.
Has the property rental market in the UK grown?
Turnover changed by +39.7%[3] between 2020 and 2024 (not adjusted for inflation).
How many businesses are in the property rental industry in the UK?
66,376 enterprises in 2024[3].
How does the UK compare with other European countries?
The UK is the second largest of the 5 countries we cover for this industry in 2024, behind Germany. See the comparison table above.
Where do these figures come from?
From official business statistics published by the Office for National Statistics. We don't estimate or model anything: every number is either published by official statisticians or calculated directly from those figures (percentage changes and currency conversion), and each one links to its source.
Notes on these figures
- No official 2025 turnover growth is published for this industry or its wider industry in United Kingdom.
- UK figures are ONS 'total turnover'; other countries show Eurostat 'net turnover'. The measures are close but not identical, so compare with care.
Sources
- Eurostat, Euro/ECU exchange rates - annual data (dataset
ert_bil_eur_a). Retrieved 24 September 2026; source updated 2026-07-08. Source link. Eurostat reuse policy (Commission Decision 2011/833/EU), attribution required - Eurostat, Enterprises by detailed NACE Rev. 2 activity and special aggregates (dataset
sbs_ovw_act). Retrieved 24 September 2026; source updated 2026-09-15. Source link. Eurostat reuse policy (Commission Decision 2011/833/EU), attribution required - ONS, Annual Business Survey: UK non-financial business economy, sections A to S (dataset
abssectionsas). Retrieved 24 September 2026; source updated 2026-05-26. Source link. Open Government Licence v3.0, attribution required
Last verified 24 September 2026. Hover over any [n] to see the exact cell a number comes from.