New data released by LSL property services has shown that in February, working tenants in the UK Private Rented Sector were paying 0.6% less in rental asking prices than they were in January.

Rents for working tenants have been falling slightly since November 2011, after rising steadily for the preceding nine months of the year.

According to LSL, the average private sector rent for working tenants in England and Wales is now around £707 per calendar month.

Tenants in employment are paying on average £24 a month more now compared to the same period last year, that’s an increase of 3.5%.However, residential property rents in London continue to outpace the rest of the UK, with rental values up 5.6% on March 2011 prices.

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