Rents in London fell slightly in December

Helen Cahill
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London rents are still more than double the prices in the rest of the UK (Source: Getty)

Average rents in London edged down slightly at the end of 2016, but remain more than twice as expensive as rents across the country.

In December, London rents fell by 0.13 per cent, to £1,882 per month. Renters in a one-bed flat paid £1,455 on average in December, which represents nearly three-quarters of the average disposable income of a Londoner.

Read more: UK house prices grew 6.5 per cent in December

Outside London, however, renters pay £750 per month on average, according to data from Landbay.

John Goodall, chief executive of Landbay, said: "Outside the capital, rents continued to grow across the country in 2016, a trend we expect to continue into the coming year.

"Demand for rented accommodation will remain robust, as the myriad threats of rising house prices, falling real incomes and rising inflation affect the ability of aspiring homeowners to get their foot on the housing ladder and save for a deposit.

Read more: Bag a bargain: Here's how much high-end London house prices fell last year

"The buy to let market has become a 'catch all' for a forgotten generation of house hunters, for those who cannot, or choose not to, buy a property outright."

House price growth is starting to slow, according to the most recent figures from Halifax, which showed house prices increased by 6.5 per cent year-on-year in December. This was down from a peak of 10 per cent growth in March.

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