In London alone, the past year the price of rent has dropped. These drops are possibly a result of Britain’s decision to leave the EU, or “Brexit”. One month saw a drastic six percent decrease in rent prices in Britian’s capital city of London .Several other regions experienced a similar decline in rent prices as well.This allowing England Eastern region to be the most expensive to live in now.In London not only had the price of rent fallen, but the number of renters searching for homes had as well.
Key Takeaways:
- Even though London is the priciest place to rent in England, rents have recently dropped significantly.
- More homes are available for rent, but there is less interest in renting than in the past in England, possibly because of economic pressure anticipated by Brexit.
- Some of the most expensive places in London have seen the largest decrease in rental prices.
“Some of the frothiest parts of the central London property market have recorded the biggest price falls over the past year.”