The average price of renting a property in the UK fell in September after the busy summer months for the first time in over 5 years, according to property website Rightmove in their latest market survey.
A glut in supply of rental property in the South East - due to landlords turning away from the London property market - caused rents in the region to decrease by 2.3% during the period. By comparison, average rents in every other region - except Greater London and Yorkshire and the Humber - rose during the review period.
Average rents in the capital fell at an annual rate of 3.3% in September according to Rightmove, to an average of £1,920 per month. In contrast, the average monthly rental across the country in September was reported as £789.
"National asking rents outside London fell by 0.2% in the three months to September, which is one of the busiest times of year for tenants looking for a new home. It was the first fall at this time of year since Rightmove started tracking rents in late 2011."