Rents in prime central London are down 4.8 per cent in the past year according to Knight Frank - a slightly less poor performance than the 5.2 per cent fall recorded in the year to December.
It says that in the mainstream market, as recorded by the Office for National Statistics, rents rents across Great Britain rose by 1.8 per cent in May, with a 1.9 per cent increase in England.
Additional research by Knight Frank suggests that the size of the private rented sector across the UK is expected to continue to grow to 5.8m households - some 24 per cent of all households - by the early 2020s.
The substantial majority of current renters - some 68 per cent - say they still expect to be living in the rental sector in three years’ time
The agency says the Build To Rent sector in the UK is currently worth £25 billion and by 2022 it will have soared to £70 billion.