"Rents are finally showing signs of cooling off, even in hot spots like London"

Iain Swatton, director at Exemplar Financial Services commented: ""Rents are finally showing signs of cooling off, even in hot spots like London, with growth slowing from 8.6% to 8.4%.

"This stabilisation, along with a slower rise in house prices, suggests the market is starting to balance out.

"While challenges remain, it’s encouraging to see signs of relief for both renters and buyers, signalling a more positive outlook for the housing and rental sectors. 

"That said, with today’s inflation announcement, an interest rate cut may not be on the cards just yet, but the market is moving in the right direction."