UK rents fall as arrears rise

Tenants signing new rental contracts enjoyed a 1.2% fall in rents in December, with the average UK rent falling to £694 a month, according to the UK's biggest lettings agent network. But rents are likely to start rising again before spring in line with demand, agents warn

The average yield fell slightly to 4.9% in December, the first drop since last January, as rents declined at a faster pace than rental property values, LSL property services said. Rents fell fastest in Wales, where they were down 2.6%, while the average rents in the south-east and London decreased by 2.5% and 2.3% respectively.