Newly agreed rents have dropped across most of the country, referencing firm HomeLet has reported.
In October, they were down month on month in all regions of the UK apart from the north-east of England, where they rose 0.6%.
The biggest fall was 2.4% in the south-east.
Despite the monthly falls, newly agreed rents are still well ahead of last year’s figures.
The average new rent in the UK is now £953 per month, up 2.7% on October last year.
When London is excluded, the average new rent is now £788, up 2.6% on last year.
Average new rents in London are now £1,665. While down 1.7% on a monthly basis, the figure is up 2.8% on a year ago.
Rents are up but now falling across the country. Is that because landlords have increased their rent to cover ‘no fees’ beyond affordability? or is it the benefits cap starting to hurt tenants that shouldn’t be in PRS?
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register
Hate to say it, but Brexit and latterly election-stasis is affecting everything.
You must be logged in to like or dislike this comments.
Click to login
Don't have an account? Click here to register