New rents fall in London for first time in eight years

New rents in London have fallen for the first time in eight years, referencing firm Homelet reported this morning.

It said that rents on new tenancies in the capital fell by 1.2% in April compared with the same time last year – the first fall since December 2009.

Across the UK, newly agreed rents were just 0.4% higher than a year ago, with the average monthly rent standing at £904.

Homelet CEO Martin Totty said: “Rents have been rising at a more modest pace across the whole of the UK in recent months, with lower levels of rental price inflation and even falling rents in areas of the country where prices were previously rising most quickly.

“We continue to see landlords and letting agents weighing tenant affordability considerations very seriously.”

Homesearch EOS
x

Email the story to a friend



2 Comments

  1. Will

    Proof the market sets rents not landlords nor agents.

    Report
  2. Paul

    Or more importantly the government !

    Report
X

You must be logged in to report this comment!

Comments are closed.

Thank you for signing up to our newsletter, we have sent you an email asking you to confirm your subscription. Additionally if you would like to create a free EYE account which allows you to comment on news stories and manage your email subscriptions please enter a password below.