
Rent costs finally fall outside London but capital hits another record high
The IndependentGet the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Average asking rents outside London have fallen for the first time since before the pandemic, marking a potential shift in the rental market. Meanwhile, London's rental market continues its upward trajectory, with average advertised rents reaching another record high of £2,695 per month, the 13th consecutive quarterly increase. “Our own data shows that the average rental property is still receiving 10 applications per property, which is lower than the peak, but still double the pre-pandemic norm.” John Baybut, managing director at Berkeley Shaw Real Estate in Liverpool, said: “Demand is generally still pretty strong and the market is still busier than before the pandemic. Landlords need to work closely with experts to set the right price and keep their home occupied in the current market, reducing the risk of void periods.” Alex Bloxham, a partner and head of residential lettings at Bidwells, said: “These figures suggest landlords are continuing to invest in their buy-to-let portfolios, while more tenants are choosing to stay put, likely due to continued macroeconomic uncertainty and the up-front costs involved in relocating.”
History of this topic

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Nearly a fifth of homes on the market have previously been rented – Rightmove
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Advertised rents ‘hit fresh highs but pace of increases is slowing’
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Cost of privately renting homes rises by more than 9% in a year - the largest increase since records began - to an average of £1,246 per month to heap more cost-of-living pressure on families unable t
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Average of 20 viewing requests for each home to rent, says Rightmove
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