Rents across the nation fell by 0.3% in June, compared to the same month a year ago, according to new data from tenant referencing service HomeLet.
It’s the second month in a row in which rental prices have dropped, and puts the average monthly rent paid in the UK at £908, edging down from £910 in June 2016.
In London, rents have fallen on an annual basis for three consecutive months. Tenants in the capital now pay an average £1,524 a month, down from £1,564 a year ago.
June’s decline mirrors the 0.3% decrease seen in May .
What happens in the capital tends to ‘act as a driver’ of rental movements elsewhere, according to HomeLet.
And, as London showed a 2.6% decline in the average rent agreed on a new tenancies last month, many renters around the country will be in line for better deals.
In fact, HomeLet reported that rents fell in five out of 12 regions in June.
These include the East of England (-0.1% year-on-year), southeast (-0.2%), Yorkshire and Humberside (-0.9%), Greater London (-2.6%) and the northeast (-3.1%).
Across the UK however, it was still a mixed bag. Northern Ireland for example saw monthly rents increase to £610, up 3.5% from £589 in June 2016.
Monthly rents in the East Midlands also increased to an average £614, up 2.8% from last year’s £597, while in Wales they climbed by 2.5% to a current £608.