Are you looking for a house for rent in the UK? Then, this is the right time to look for a suitable accommodation, as rent has fallen by 0.5 per cent in several localities of London when compared to the corresponding period last year! For the first time in 6 years, rent has dropped in the London housing market.
Countrywide’s Lettings Index for July points to the slowing down of rental growth in almost all regions of the UK and London is no exception. In London particularly, the rent has fallen by £7 per month and this should come as a relief to people seeking rental accommodation in Europe’s financial capital.
Elsewhere, the rents have fallen by 1.1% in South East; 2% in Wales and 1% in Scotland. Property owners had not foreseen a decline in rent growth, but it can be attributed to increase in the number of homes available for rent. The number of homes available across Great Britain for rent is 23%. The last time the rent witnessed negative growth was in November 2010.
So, make an informed decision before taking up a house on rent in London. Look for the most suitable accommodation for rent in the location that suits you best from all perspective – connectivity, access to amenities, workplace and shopping. Make sure that you select the correct estate agent, who can help you take decisions that benefit you in the long run.
July’s Countrywide Lettings Index shows that rental growth slowed across every region of the country. London recorded the first annual drop in rents for six years. Rents in the capital fell 0.5% over the last 12 months making the average rent £7 per month cheaper than it was in 2015