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,”
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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