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Rents Drop, But North West Shines Bright

  • Writer: Sarah Ruivivar
    Sarah Ruivivar
  • Sep 29
  • 1 min read
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Asking rents across Britain have dipped by 2.2%, according to Home's latest index, with London leading the decline.


While the East Midlands and North East remain resilient, other regions, including Scotland and Wales, are feeling the pinch. In London, only 11 out of 33 boroughs saw rent growth, with Kensington experiencing an 8.6% drop.


On the sales front, Scotland and the South West are seeing the steepest price falls. Annual home price growth in England and Wales is lagging behind inflation, sitting at a modest 0.8%. Real growth is estimated at -4.7%, with unsold sales stock reaching its highest September level since 2013, exerting downward pressure on prices.


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Despite this, the North West is enjoying a property market boom with a 3.7% year-on-year gain, closely followed by Yorkshire at 3.5%. Conversely, London is the laggard with a 0.5% annualised loss.


Although sales market momentum remains high, it hasn't significantly reduced unsold stock. The typical time on the market is three days longer than last year, hinting at a potential rise.


In summary, while asking rents are falling and sales stock is piling up, the North West and Yorkshire are the shining stars in an otherwise challenging market landscape.


Want to hear more? Join Mal & Matt on the Property AI Report Podcast each week!

Access from your preferred podcast provider by clicking here



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