Article taken from: www.telegraph.co.uk
London rent growth slows for first time in eight years Save We’re currently experiencing technical difficulties. If this persists, please […]
Click here to read the full article
London rent growth slows for first time in eight years Save We’re currently experiencing technical difficulties. If this persists, please email our dedicated team at Londoners are seeing rent growth fall slightly, the first such shift since 2010 Credit: Eddie Keogh/REUTERS Renting property
London’s rental market has seen price growth decline for the first time since 2010, while the wider housing market continues to cool, official data has revealed.
For the first time in nearly eight years, growth in London rents fell by 0.2pc in the year to May. Across the UK, rental prices were flat, the Office for National Statistics (ONS) said.
The growth rate of London rental prices has been slowing since August 2014, when it hit a peak of 4.3pc.
Meanwhile, house prices grew overall, and returned to growth in London. Residential property prices grew by 3.9pc in the year to April, down from 4.2pc in the twelve months to March.
The two measures – rental prices and sales prices – influence one… Register for free to read this article, or log in to your Telegraph account.