The figure is down from the 0.09% growth recorded in September with London seeing a 0.11% decrease in rental growth.

This weighed down the rest of England, which recorded a 0.15% rental growth during October.

However, despite four of the bottom 10 ‘rental failures’ being London boroughs, just seven of the 33 boroughs saw rental growth turn negative year-on-year.

Landbay identified Luton, Edinburgh and Northamptonshire as the rental hotspots over the past 12 months.

Elsewhere, Aberdeen and Aberdeenshire were both hit by the dramatic fall in oil prices since mid-2014 which had an adverse effect on rental growth.

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John Goodall, CEO and co-founder of Landbay, said rental growth was slowing across the UK, but the pace varied from region to region.

“Falling rents in some of the most expensive parts of the country, especially prime London locations, can distort the picture for the rest of England and the UK, where rents are continuing to grow at a steady pace.

“In the last month alone, rents fell by -0.11% in London, while they continued an upward climb of 0.15% in the rest of England.”

John added that any moderation in rental price would always be welcomed by generation rent with the swelling population of aspiring homeowners and long-term tenants.

“As this month’s Autumn Statement comes over the horizon, all eyes will be on how the UK’s chronic housing shortage will be addressed.

“Unless supply catches up with demand, there's nothing to suggest overall rents will go in any direction other than up.”