Rents in Britain have recorded their first annual drop for six years, according to the UK’s biggest estate and lettings agency. In February, the average rent in Britain was £921 a month, £5 lower than a year earlier, and the first annual decrease since 2011. Rents in the south-east have also dropped, by an average of 2.6%, but in other parts of the UK they are still rising. Countrywide said rents in Wales were up 5.3% over the last 12 months to an average of £636 per month, while in the east of England they rose 3.1% to £945. Tenant demand is also falling in the south-east, but in other parts of the UK it continues to rise.

Source: The Guardian March 13, 2017 06:00 UTC