Across the UK, rents rose by an annual average of 3% in November, the fifth month in a row where rental inflation has been flat or falling, according to HomeLet. The average monthly rent last month was £898, compared to £872 in November 2015.

Rents in London rose by just 1.6% over the year to the end of November,  just half the rate seen in the rest of the UK.

While London landlords are still seeing rent increases in cash terms, as rents in the Capital are significantly higher than anywhere else, rent is rising more slowly than other regions.

Martin Totty, HomeLet’s chief executive officer, said: “November’s figures reflect a continuation of trends which the HomeLet Rental Index has been tracking for several months.

“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.”