The annual growth of London rent prices was slower than the rest of the UK in November, according to a report by Homelet .

Research from property data company showed prices grew by 1.6% in the capital between November 2015 and November 2016, with the average rent recorded as £1,521.

This was slightly above half the growth experienced in the rest of the country, which saw a rise of 3.1%.

It was the second month that rental growth in London was unable to keep pace with the rest of the country.

Homelet CEO Martin Totty said: “November’s figures reflect a continuation of trends which the Homelet Rental Index has been tracking for several months.

Homelet CEO Martin Totty

“While landlords have been able to edge rents up, the amount of the increase been slowing for a number of months, which suggests landlords understand that tenants have, or are, reaching an affordability ceiling, particularly given the uncertain economic climate.”

In the first half of 2016, rents across the UK consistently rose at rates above 4%, with the London market recording a peak of 6.2% in March.

But since the summer months, rental price inflation has slowed and Martin pointed towards “external interventions” in the sector, including the rise in Stamp Duty, the introduction of Right To Rent regulation and the letting agency fees ban as factors in that.

He said: “There is clearly now some uncertainty and it’s to be hoped tenants don’t assume fees are no longer their liability and risk losing the property they’ve found to rent.

“This would be an unfortunate unintended consequence of the announcement contained in the Autumn Statement.

“If tenants eventually are no longer liable for up-front charges incurred by agents, landlords will want to be even more certain tenants who put themselves forwards as prospective renters are thoroughly vetted and referenced since there would then be no financial commitment from the renter when making their application.”

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