NEWS: rents in the UK fall for the first time in 6 years

Rents in Britain have recorded their first annual drop for six years, according to the UK's biggest estate and lettings agency

Pinterest

Pin It

The Guardian reports, "In February, the average rent in Britain was £921 a month, £5 lower than a year earlier, and the first annual decrease since 2011. Countrywide, which compiled the figures, said the buying frenzy ahead of the hike in stamp duty last year pushed up the supply of new homes for letting by 10%. Meanwhile tenant demand has been dropping, particularly in London, possibly related to Brexit."

After years of annual rent rises, the London lettings market is finally offering some slight relief for tenants, with rents in the capital falling by an average of 4.7 per cent over the past year.

To celebrate take at look at our feature on how to decorate rental property.