At last, some good news for generation rent

If rents stay down, Britain’s cities could become younger and more vibrant places. But that’s a big ‘if’, writes James Moore

The price of renting in London is falling and the same is true of some other big cities. But will it last? (Getty)

There aren’t many positives to come from the pandemic, but one potentially beneficial side effect is the tumble taken by city centre rents. 

Property website Zoopla says the London rental market, previously a horror show for the capital’s residents, has experienced a 9.4 per cent year-on-year decline, leaving affordability at a ten-year high. 

The average rent now accounts for 42 per cent of the average single-earner income in the capital, down from 49 per cent in March 2020. A peak of 53 per cent was reached in the fourth quarter of 2016.