Residential rents have fallen in October by an average of £40 to £878 a month, the biggest month-on-month fall since January 2010.
According to the data from Homelet the average monthly rent increased over the summer to £918 as graduates settle into new accommodation and families move based on the school schedule. But rents have since fallen further than usual, suggesting that rents had reached a natural ceiling based on income.
Meanwhile Plymouth, Cardiff and Leeds are considered the most affordable places to rent, according to a the Homelet report, while London, Edinburgh and Birmingham are the least affordable.
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