London Property Rents Decline at the Sharpest Pace in 11 Years
- Rest of the U.K. saw quicker increases in the cost of renting
- Consumers anticipate home working will continue after pandemic
Estate agents' signs advertising properties to let in front of terraced houses in London.
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
London property rental values fell at the sharpest annual pace in more than a decade in August, adding to evidence of a shift away from living in urban areas during the pandemic.
The 0.4% drop in the price of letting a home in August was the sharpest since 2010, the Office for National Statistics said on Wednesday. Excluding the capital, rents in the rest of the country climbed 2% last month.