Rents in inner London fell by 14.9% in October in a year-on-year comparison made by estate agents Hamptons.
It’s the only regional fall in rent – aside from Wales, which saw a negligible 0.4% drop – but it’s a pretty good indicator that it’s time to do something about it.
According to the analysis from Hamptons: “The coronavirus pandemic has changed tenant behaviour, with many renters making the move out of cities to the suburbs and more rural locations.
“There were 7% fewer applicants looking to rent in cities last month, but 29% more homes available to rent than at the same time last year. This has put downwards pressure on rents.”
So if you’re living in a city, or indeed in Wales, it may well be time to renegotiate your rent with your landlord – because cheaper rents could be just around the corner, but they’re already going up.