Rental prices in London rise by 0.1%

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.”