21 Feb

Cost of renting falls in London

Cost of renting falls in London

The cost of renting a home in London has seen a drop in January - good news for those who are looking to find themselves a place to live in the capital.

Commuting and living outside the city has become a lot more prevalent in recent years, largely thanks to the fact that there have been almost continual rises in the price of both properties to buy and those for let.

However, a new report from Move With Us has shown that the cost fell by 1.07 per cent throughout January of this year compared to the end of 2012. This was in spite of a strong rise against the same month a year ago.

"Minimal evidence of demand pressures, combined with stable supply, suggests that the market has reached an equilibrium point," said Robin King, director of Move With Us.

In contrast to the drops in London though, landlords in other areas have seen positivity with prices rising. In the north-west of England, charges to tenants rose throughout the month by 1.3 per cent.ADNFCR-1222-ID-801544348-ADNFCR

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