What? Rents continue to fall in London

 
Helen Cahill
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The Changing Face Of Brixton
Average rents have started edging downwards in the capital (Source: Getty)

Rents in London are actually falling.

It appears the capital's rental market is starting to shift in favour of tenants, as average rents fell by 0.7 per cent last month.

According to figures from Landbay, the average rent for new tenancies in London was £1,880 per month in March.

Read more: These are the only places in England and Wales where rents are falling

However, London remains by far the most expensive place to rent in the UK. The average UK rent was £1,191 per month in March, and in England, renters paid £1,222 per month on average.

The cheapest place to rent in the UK is Northern Ireland, where tenants paid £557 per cent on average.

March 17

Year-on-year change

Month-on-month change

Average rent

UK

0.90 per cent

0.04 per cent

£1,191

England

0.87 per cent

0.04 per cent

£1,222

Scotland

1.25 per cent

0.10 per cent

£723

Wales

1.41 per cent

0.09 per cent

£636

Northern Ireland

0.07 per cent

0.16 per cent

£557

London

-0.70 per cent

-0.09 per cent

£1,880

UK without London

1.78 per cent

0.11 per cent

£752

John Goodball, chief executive of Landbay, said: "While the figures suggest we may be starting to see some much-needed relief for tenants, the cost of renting a property remains a huge burden for the 4.3m people in the private rented sector across the UK, especially in London where average rents are significantly more expensive than the rest of the country."

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