The average private rent in the UK has fallen for the first time in five years. Lower mortgage rates have helped cool rental sector after years of above-inflation increases in rent, data shows.

New figures released on Monday, August 11, show average private rents in Great Britain have fallen for the first time in five years as lower mortgage rates helped take some of the heat out of the rental sector.

Estate agent Hamptons said the average rent on a newly let property fell by 0.2% year on year in July. It was the first annual decline since August 2020, during the height of the Covid pandemic.

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Greater London continues to record the steepest declines, with rents falling by 3% year on year in July. Rents in Wales

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