The average rental prices in London falls.
Although it is not a big drop in prices, it may be a taste of what is to come in the London rental market.
According to The Deposit Protection Service (The DPS), the average rental prices in London declined during the second quarter of 2021.
In the latest edition of its quarterly rental index, which is based on a database of millions of properties across the UK, the DPS revealed that the average monthly cost of renting a property in the capital decreased by £ 11 (-0, 83%) between April and June this year at £ 1,314, down from £ 31 overall from the second quarter of 2020 (-2.30 percent).
Figures from the DPS also showed a steeper decline in average London apartment rentals over the past 12 months: £ 45 from £ 1,346 to £ 1,301 (3.34 percent).
For the UK as a whole, the Index showed a slight increase in average monthly rent from £ 782 to £ 804 (£ 22 or 2.81 percent) between Q2 2020 and Q2 2021.
“A further drop in rental prices is expected during the second half of this year.”
Matt Trevett, Managing Director of The DPS, said: “Figures for the second quarter of 2021 again suggest a decline in rental demand in London, particularly for smaller properties.
“Although the average rent in London increased slightly between January and March this year, the decrease we have seen since then reflects a broader trend of lower rents in the capital during the pandemic.
“The slight increase in average UK rents also reflects the continuation of the general and steady increase since the coronavirus hit, particularly for townhouses and townhouses.
“It seems likely that these figures reflect an ongoing desire among tenants to move away from cities, particularly due to changes such as homework, albeit with restrictions due to the early uprising and with many companies making plans to return to offices, we will have to see if the trend continues.”
Outside of London, people from the southeast paid more (£ 937) for rent during the second quarter of 2021, the organization said.
The North East is the cheapest region to rent in the UK, with rents falling £ 27 (4.85 percent) to £ 530 during the first quarter of 2021.
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