London rental prices 'flattening out'
Rental prices across London could begin flattening out in the near future due to the fact the sharp increases seen in recent times cannot go on forever.
That is according to Gary Styles, strategy, risk and economics director at Hometrack, who believes the capital city is, like the rest of the country, now experiencing a "moderation in the pace of rental growth".
Last week (June 6th), research by haart revealed that typical residential rents in London declined to £919 in May.
This represents a fall of 4.3 per cent on the figure recorded one month previously and Mr Styles admitted such a sharp dip is striking as, previously, London's rental market has consistently experienced price rises.
He went on to say this comes as no great surprise as "affordability is becoming quite strained" both inside and outside the capital, but added this is likely to be "much more of an issue" away from London.
Posted by Andy Britten
Published 12th June, 2012
© 2012 Estates IT Limited
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The cost of renting property in London is flattening out, an expert feels.