Rents in UK private rented sector fall for first time in five years
Rents in the UK private rented sector fell marginally by 0.1% in November. Although this may be a tiny decline it represents the first decrease in five years with evidence pointing to a two speed market.
The second edition of the National Rent Review from Landbay shows that during 2017 the average rent paid for a UK property grew by 0.53%. A more detailed story emerges however, when falling rents in London are excluded as these are weighing down rental growth elsewhere in the UK of 1.27%.
Across the UK the East Midlands region saw the strongest growth at 2.13%, followed by the South West with growth of 1.63%.
Full story available from PropertyWire: https://www.propertywire.com/news/uk/rents-uk-private-rented-sector-fall-nationally-first-time-five-years/