There is a complex formula, whereby values needed to be back-dated to provide a baseline from which rents can be calculated. The starting point for this formula is indeed the current value of a property. Rents will, therefore, rise for new properties compared to existing properties. However, this rise needs to be considered in the context of overall cost of living and running a home. See question on “What will happen to cost of living on the estate” here.
Does this answer your questions? If not get in touch