Renting in Britain costs less now. A similar decline in property values has hit the residential sales market, with housing costs dropping as well. Such a drop in costs has not occurred for more than seven years. London experienced the largest drop in prices; however four other areas of the United Kingdom also reported declines: the northeast and the southeast of England, Scotland, Yorshire and Humberside. Problems created by this situation are that landlords face rising costs while tenants, with low wages, cannot pay more.
Decline of rental prices in London, the lack of house buyers in London, and possibly Brexit itself, have prompted many London residents to rent their London homes, pushing house rental prices to fall in London for three consecutive months, which they hadn’t done in years.

Read more: UK rents fall for first time since 2009, plus peer-to-peer lending left me in the red – The Guardian