Outside of London, rents fell for the first time since 2019, the report showed. While rental prices are still well above 2023 levels, the 0.2% decline marks a “key milestone” suggesting the rampant inflation seen in recent years is coming to an end.
London rent inflation cooled to the weakest in three years, bringing some relief to the UK capital’s hard-pressed tenants, according to Rightmove.
The average advertised rent rose just 0.1% to GBP2,695 ($4,530.11) per month in the fourth quarter, the property website said Tuesday. That’s up 2.4% from a year earlier, the slowest pace of increase since 2021.
