Private sector tenants in London pay over 100% of asking rent

The average home in the UK is let for 99.9% of the asking rent, the highest such value since 2007, just before the global economic downturn, new research shows. Overall the average UK rent is up 3.2% to £926 per month but the rate of growth is down from February 2015, the latest Countrywide monthly lettings index shows. The report has identified a fall in tenants’ negotiating power when renting a new home. It has found that 12% of lets were agreed at more than the initial asking price over th...