London continues to be the most expensive UK region in which to rent property, with average rents in Q1 2019 standing at £1,288, £531 higher than the UK average of £757
Despite this, there was a 0.19% decrease in average rent compared to last quarter, when average rents stood at £1,291.
Year on year, London average rent has declined sharply by 1.45% (£19) from £1,307.
Average monthly UK rent fell to £757 in the first quarter of 2019, with tenants paying £5 less than the previous quarter (Q4 2018). Significantly, year on year average rents have fallen from £772 in Q1 2018 to £757 in Q1 2019 and are now at their lowest point since Q1 2016.