The cost of renting a home in Enfield has seen one of the steepest drops in London so far this year, according to new research.

According to London estate agent Portico, it is an average of 1.3 per cent cheaper to rent a two-bedroom home in the borough now than it was in January 2016, the fifth largest drop across all London boroughs.

Rent costs across all homes have also dropped by 3.7 per cent in Enfield, again the fifth largest decrease out of the 32 council areas in the city.

Robert Nichols, managing director of Portico, said: “The majority of London boroughs are seeing rent increases anywhere from one to almost seven per cent.

“But our latest report also shows some significant rent drops. Bromley is down over six per cent, with Enfield also experiencing nearly four per cent reductions.

“All in all, these declines won’t prevent the average two-bed rent tipping over the £2,000 mark later this year.”

The average rent for a two-bed home in London now stands at £1,867 pcm, a two per cent increase from the beginning of the year.

Average monthly rents for London two-bed homes will top £2,000 by the late summer, according to the Portico London Rental Market Report.