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Brace yourselves, London, it's finally happened. After what seems like years of endless rent hikes, the cost of renting in London has finally fallen. This is not a drill. It's gone down for the first time in almost six years. But don't crack out the champagne just yet – it's only decreased by 0.5 percent compared to July last year.
According to lettings network Countrywide, the saving translates to around £7 per month, which is about £84 per year. Sure, you'll probably squander that amount of money pretty swiftly on Ubers and booze, but at least it's headed in the right direction.
Image: Umbreen Hafeez
Want to see where you can afford to live? This map shows the cheapest and most expensive areas to rent a room in London
Remember when someone was renting out a bed in a cupboard for £500pcm?