London landlords pessimistic on rent as UK housing loses steam

Covid-19 hit London hard and the new variant of the virus is spreading rapidly, helping trigger a third national lockdown. With many now working from home, residents are looking for more space outside of the city after years in which the capital’s housing market outpaced the rest of the country.

LONDON: London’s home letting agents are growing more pessimistic about the outlook for rental prices after the coronavirus pandemic fuelled a flight from the capital.

That’s the conclusion of a survey by the Royal Institution of Chartered Surveyors (RICS), which detected a broader slowdown in the UK’s housing market in December. London is the only part of Britain where rents are expected to fall in the next three months.