Rental prices in London have risen for the first time in 18 months, according to the latest research
The Landbay Rental Index (powered by MIAC) has revealed that rental prices in the capital increased by 0.1% in the 12 months to June 2018.
Rents in London had declined on a year-by-year basis since December 2016.
Rental growth for the rest of the UK – excluding London – slowed to 0.54% in the first six months of the year.
Average rent paid for a property in London is now £1,884, compared with an average price of £764 for the rest of the UK.
John Goodall, CEO and co-founder of Landbay, said: “Wherever they’re based, landlords have had to face a myriad of challenges over the past two years…
“Despite this, there has been little sign of them passing on additional costs to tenants.
“However, with a rate rise on the horizon, meaning a rise in the cost of borrowing for landlords, we may well start to see landlords increasing rents in the coming months to stay afloat.”
