Rents 落ちる for third month in a 列／漕ぐ／騒動 across the UK - and London prices 減少（する） 5%: Here's why

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After three years of 二塁打 digit rent rises, the 賃貸しの market finally appears to be 冷静な／正味のing.

賃貸しの prices in the UK have dropped for a third 連続した month, によれば the HomeLet 賃貸しの 索引. This 索引 uses tenant 言及／関連ing data from more than one million renters every year.

It shows that in January 普通の／平均（する） rents fell by 0.6 per cent, に引き続いて a 0.9 per cent 落ちる in December. Since October, the 普通の／平均（する） rent has fallen from a high of £1,283 a month to £1,260 a month as of January.

This follows three years of 劇の month-on-month rises which drove the 普通の／平均（する） rentup by 32 per cent, from £974 to £1,283 a month between October 2020 and 2023.

HomeLet says every UK 地域 saw 普通の／平均（する） rents 落ちる in January except for the East Midlands, West Midlands and the South West.

Slowi ng: In January 普通の／平均（する） rents on newly let 所有物／資産／財産s across the UK rose at the slowest pace for 13 months, によれば Hamptons

The 人物／姿／数字s from HomeLet chime with data 解放（する）d today by Hamptons.

The 所有物／資産／財産 会社／堅い 明らかにする／漏らすd 普通の／平均（する） rents on newly-let 所有物／資産／財産s rose at their slowest pace for 13 months, up by 8.3 per cent year-on-year across the UK.

This 示すs a change in 速度 from 2023 when 賃貸しの growth 頂点（に達する）d at 12 per cent in August and slowed わずかに to 10.2 per cent in December.

Hamptons says that last month 59 per cent of landlords 達成するd a higher rent when a new tenant moved in, 負かす／撃墜する from a 頂点（に達する） of 81 per cent in January 2022 and 79 per cent in January 2023.

Aneisha Beveridge, 長，率いる of 研究 at Hamptons, said: 'Last summer looks like it may have been the high watermark for 賃貸しの growth.

'Since then, より小数の landlords have been putting up the rent. Where they have, in cash 条件, 月毎の 増加するs ha ve tended to be in 二塁打 rather than ３倍になる 人物／姿／数字s.'

We decided to 接触する a number of letting スパイ／執行官s around the UK to 設立する if they are also seeing the 賃貸しの market 冷静な／正味のing.

Lorraine Ashelby, letting and 所有物／資産／財産 管理／経営 director at Countrywide in Scotland, said: 'We have noticed a slight 転換 in rents in central Glasgow and surrounding markets.

'This market is 絶えず changing and we are 現在／一般に seeing the need to lower rents, albeit gently.

'Where we have 以前 seen rents reach up to 30 per cent above market value 予定 to exceptional 需要・要求する, we are now seeing 需要・要求する equalling 供給（する） and many tenants are not 用意が出来ている to 支払う／賃金 over the market value.

'その上に, tenants 推定する／予想する a very 井戸／弁護士席 現在のd 所有物／資産／財産 if 支払う／賃金ing the 最高の，を越す end prices 命令（する）d in the City.

'In our 辺ぴな 支店s covering the West Coast to Dundee, rent change is very subtle and in many areas remains flat.'

More choice: There are 34% more 賃貸しの homes on the market today than at the same time last year, but 43% より小数の compared to the same time in 2019, によれば Hamptons

Angela Davey, 長，率いる of lettings at Peter Alan in むちの跡s, says that while rents keep rising in cities, rents in smaller towns and 田舎の areas are starting to flatline.

She says: '普通の／平均（する） rents are still at 記録，記録的な／記録する levels here in むちの跡s but the 最新の growth 率s were the lowest since pre-pandemic, and 早期に 調印するs 示す that the 年次の pace of rent growth will slow その上の in 2024.

'にもかかわらず the 現在の 傾向 of modest 賃貸しの growth in むちの跡s, 明確な／細部 場所s within the country 展示（する） more pronounced fluctuations.

'顕著に, 都市の centres and areas with high 需要・要求する for 賃貸しの 所有物／資産／財産s, like Cardiff, are 証言，証人／目撃するing 比較して higher 賃貸しの growth 率s.

'On the other 手渡す, 田舎の areas and smaller towns may see slower 賃貸しの growth or even stagnation, with growth 率s below the 国家の 普通の／平均（する）.'

一方／合間, Matthew Hardwick, lettings 支店 director at William H Brown in Lincoln, says that 賃貸しの 需要・要求する very much depends on the type of 所有物／資産／財産.

Hardwick says: 'In the Lincoln area, we're still seeing 全体にわたる rents 増加するing, however we are finding that 確かな 所有物／資産／財産 types may see slight 削減s 簡単に 予定 to lower 需要・要求する.

'For example, a larger house with four or five bedrooms is 現在／一般に いっそう少なく in 需要・要求する and therefore more likely to see a price 削減 than a two or three bedroom 所有物／資産／財産 ? these are our bread and butter 所有物／資産／財産s for which rents continue to 増加する as there is much more 競争 amongst tenants.'

Why are rents 落ちるing?

Over the past three years, much has been made of the fact there are not enough 利用できる homes to let to 会合，会う the growing 需要・要求する from renters.

However, it appears that this 不均衡 is finally starting to tip 支援する in favour of renters.

Hamptons says there are 34 per cent more 賃貸しの homes on the market today than at the same time last year.

This is まず第一に／本来 a reflection of the 増加するd time it takes to let a 所有物／資産／財産, rather than a big 増加する in the number of new 賃貸しの homes coming の上に the market.

However, there remains a 不足. For example there are still 43 per cent より小数の 賃貸しの homes compared to the same time in 2019 - before rents began 狙撃 up.

'The 規模 of mortgage 率 rises kickstarted two years of 記録，記録的な／記録する-breaking 賃貸しの growth. As landlords have rolled off 直す／買収する，八百長をするd 条件, they've been partly feeding these higher costs through to tenants in the form of higher rents.

'While the 上向き 圧力 on rents seems 始める，決める to 弱める in 2024, 特に since mortgage 率s have come 負かす／撃墜する, wider 圧力s on landlords mean 賃貸しの growth will remain stubbornly sticky.

'減ずるd returns coupled with the 付加 time and 財政上の costs stemming from 賃貸しの 改革（する） have squeezed the numbers of new landlords. This looks 始める，決める to keep 賃貸しの growth running ahead of インフレーション this year.'

London rent 落ちるs lead the way

The 賃貸しの market in the 資本／首都 appears to be 冷静な／正味のing the fastest at 現在の.

年次の 賃貸しの growth in the 資本／首都 more than halved between August and January, 落ちるing from 17.1 per cent to 8.1 per cent, によれば Hamptons, meaning it 記録，記録的な／記録するd the slowest 賃貸しの growth in two years.

The 普通の／平均（する） 月毎の rent for a 所有物／資産／財産 in Greater London has fallen by more than £100 a month from a high of £2,192 a month in October to £2,081 a month as of January - equating to a 5 per cent 落ちる.

Again, it is likely that an 増加するing number of 利用できる 賃貸しの homes is helping to bring prices 負かす／撃墜する in the 資本／首都.

によれば London letting a gent Chestertons, there are 41 per cent more 賃貸しの 所有物／資産／財産s 現在／一般に 利用できる in London than there were in January 2023.

With more 所有物／資産／財産s on the market, it says that tenants are enjoying more choice and are under いっそう少なく 圧力 to make a 決定／判定勝ち（する） quickly.?

Still up: While 普通の／平均（する） rents have fallen they still remain much higher than a year ago

Data from Rightmove supports this, showing that the 普通の／平均（する） length of time a 所有物／資産／財産 is 名簿（に載せる）／表（にあげる）d on the 壇・綱領・公約 before 存在 let or placed under 申し込む／申し出 増加するd from 33 to 39 days.?

This has led to a greater number of landlords 削除するing asking prices ーするために attract tenants.

Adam Jennings, 長，率いる of lettings at Chestertons, says: 'We have seen a 重要な 増加する in landlords bringing their 所有物／資産／財産 to market as they have been attracted by the 相当な rent 増加するs over the last 18 months or so.

'This influx of 所有物／資産／財産s has led to more choice for tenants and as a result many landlords have decided to lower their rent 期待s.

'We 予知する the number of 利用できる 賃貸しの 所有物／資産／財産s to continue to grow in 2024, which will 原因（となる） rent levels to adjust その上の.?

'This does create more 有益な market 条件s for tenants, however, London still has one of the most 競争の激しい lettings markets out there and we advise tenants to start their search as 早期に as possible.'

What next for 賃貸しの prices?

にもかかわらず 肯定的な news on the surface for renters, HomeLet's 専門家s believe this is not the beginning of a downward 傾向.

In fact, HomeLet’s 専門家s are still 予報するing that 賃貸しの costs could rise by a その上の 5 - 10 per cent by January 2025.

Andy Halstead, 長，指導者 (n)役員／(a)執行力のある officer at HomeLet and Let 同盟, says: 'Though we can 絶対 be 肯定的な about these short-称する，呼ぶ／期間／用語 伸び（る）s, it’s not time to celebrate just yet.

'On the one 手渡す, it’s 広大な／多数の／重要な to see rent prices continue to 落ちる month on month, and by the biggest 容積／容量 in years.?

'But on the other 手渡す, we also know the market and are 井戸／弁護士席 aware of the 外部の factors that may 衝撃 it in the coming months.'

HomeLet’s 専門家s are still 予報するing that 賃貸しの costs could rise by a その上の 5 - 10 per cent by January 2025

Halstead 追加するs: 'Of course, marginally lower rents put わずかに more money in tenants’ pockets and 部分的に／不公平に 減ずる the 見込み of defaults, but the broader landscape is still incredibly challenging for all parties - with little 調印する of 緩和.?

'In fact, に引き続いて last year’s trajectory, it is 完全に possible that rents could be 5 or 10 per cent higher by this time next year.

'Unless we see some 劇の changes to the economy, 2024 looks 始める，決める to bring more of the same.?

'Landlords will have to do 戦う／戦い with a familiar array of struggles, 含むing rising costs and prohibitively expensive buy-to-let mortgage 率s.

'I'll be keeping a keen 注目する，もくろむ on the Spring 予算 next month, to see what 肉親，親類d of support will be 申し込む／申し出d to renters and landlords.'