Homelet's Rent Index for April 2017 shows the slowing growth rates, with UK rents up just 0.4% over the year, and London seeing a fall of 1.2%; the first fall in London rents for 8 years.
- Rents on new tenancies in London fell by 1.2% compared with April 2016.
- UK annual rental growth at just 0.4%, at £904 pcm.
- Wales, North-East England and Scotland saw strongest rise during April.
HomeLet's Martin Totty comments:
“Rents have been rising at a much more modest pace across the whole of the UK in recent months, with lower levels of rental price inflation and even falling rents seen in areas of the country where prices were previously rising most quickly. This trend is ongoing: we continue to see landlords’ and letting agents weighing tenant affordability considerations very seriously.”