Rental prices finally fall after five years of rises

RENTAL prices in the North East have finally fallen after what property firm Hamptons described as “five years of relentless rises”.

- 

Average rents on newly-let homes fell by 0.3% in July, with the figure now standing at £850, as the region moves in line with other areas of the country.

Across the UK, the average rent on a newly-let property fell by 0.2% year-on-year in July, marking the first annual decline since August 2020, during the height of the Covid-19 pandemic.