Rental market prices down year-on-year
The average price of property to rent in London - and the UK as a whole - is lower than it was 12 months ago, according to new research.
Although rental prices in the capital have gone up 0.4 per cent in May, they are still considerably down on last year's figure, it has been suggested.
Indeed, the average rental price in London is now £1,630 per calendar month, according to FindaProperty.com's May rental index, while average asking rents across the country are down 5.5 per cent year-on-year.
flats to rent in the UK are generally available for lower prices than they were in May 2008, but the fees needed to rent houses appear to be getting higher.
Head of research at FindaProperty.com Andrew Smith said: "All of the regions continue to show year-on-year rental declines and a number of regional cities are still registering double-digit falls in price."
According to Halifax, house prices are still too high for key workers, which is likely to keep demand for rental property high among this group.
Written by Ben Carter
Published 28th May, 2009
© 2009 Estates IT Limited
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