16^th Feb 2018

According to research nearly a fifth of landlords with properties in outer London reduced their rent in the last year.

The research shows that 16% of outer London landlords have cut their rents, however 23% had in fact raised them.

In spite of the 23% of landlords increasing rents in the area, it is still the second lowest average throughout Britain with the North East where just 18% were able to raise their rents.

14% of London landlords have had to reduce their rents during 2017.

The South West is the best area in the UK for increasing rents as 42% of landlords were able to charge their tenants more.

The findings were released at the same time as the Office of National Statistics private rental index, it reported on the rise of UK rent prices as continuing to slow down with the London market being a major factor.

A spokesperson for the industry body that held the research said: “These findings do not mean London is suddenly going to become more affordable for renters, but it seems to confirm that the trend of a softening of tenant demand in the capital is well-established.

“Both landlords and tenants are continuing to look outside of the capital to other centres and areas commutable to London which, if anything, will only serve to push up prices in those regions.”


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