London rents ‘fall in December’

Posted on 31 January, 2011 by MOVEHUT

The rental rates in London dropped by a significant quantity at the end of year 2010, according to the new research, which might provide a strong reason to look out for flats to rent in London.

According to the survey conducted by LSL Property Service survey cited by the British Property Federation, rental rates in London city fell by an average of 2.3 % in the last month.

It was also evident in the research that it is greater than the average fall for the entire country, which just stood at 1.2%.

Except for London, some areas of UK even saw rents increase, with the West Midlands seeing an increase of 2.2% and the south-west being hit with a 1.7 % rise.

The research was conducted after a poll by the Association of Residential Letting Agents (ARLA) saw that 71 % of landlords think that the popularity of renting has augmented in the country over the past year.

Ian Potter, the operations manager of Association of Residential Letting Agents said this could increase as more hopeful buyers realise that cannot afford their own house and turn toward rented accommodations.

 



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