The cost of renting across Greater London surged by 7.7% in September, suggesting there’s renewed appetite amongst renters in the city.
This brings annual growth to 4.4% in the city, sitting slowly below the average of 5.3% across England.
It costs £2,376 to rent in London on average, while voids shortened to just 10 days, as tenants compete with one another.
William Reeve, chief executive of Goodlord, said: “Rents are behaving fairly normally for this time of year – slightly down compared to August, as is often the case, but still very high.
“However, when you read between the lines, there are some signs that prices and affordability could be softening.
“Year-on-year figures for rent rises aren’t quite as intense as we’ve seen in recent months, and it was better news for tenants around average salaries.
“It’s too soon to tell but this could be a sign that the rental cost ‘bull run’ is starting to taper off ahead of the winter.”
On a monthly basis rents fell drastically in the North East (-10.9%), East Midlands (-8.4%) and the South West (-5.3%).
