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. Countrywide, which compiled
the figures, said the buying frenzy ahead of the hike in stamp duty last year
pushed up the supply of new homes for letting by 10%. Meanwhile tenant demand
has been dropping, particularly in London, possibly related to Brexit. Read
more on the Countrywide website.
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