UK regions see rent falls

Five UK regions see falls in rental values according to letting agency, Countrywide's Rental Index for August 2016.

Their data for August shows five out of nine areas saw a fall in rental values.

Central London, the South East, South West, Midlands, and Wales all fell.

Countrywide pointed to a sharp increase in rental supply.

Johnny Morris, research director at Countrywide comments:

“In London and the South East, recent increases in the number of homes available to rent, outpacing the growth in tenants looking for a home, has meant that bargaining power is shifting towards tenants from landlords. This is slowing rental growth,”

Thanks to relatively strong performance in other areas, across the UK as a whole rents rose slightly, up 1.5% to a monthly average of £960.

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