London home rents fall for fourth month in a row

The cost of renting a home in London fell for the fourth month in a row, in the first period of decline since 2009. The average monthly rent paid for new lettings in London in July was £1,564, a 0.6% decline from a year earlier, according to Homelet. Rents across the UK gained 1.1% overall. London’s housing market is weakening in the face of Brexit, affordability issues and new taxes, Homelet says.