Rental values in London are 80 per cent higher on average than the rest of the UK, new figures show.
HomeLet’s Rental Index for November found that the average rental amount in the capital stands at £1,177 compared to £653 per month nationally. Rents in London have risen by 13 per cent in the past 12 months. This is in contrast to other UK regions where rents are on average just 1.6 per cent higher than they were in at the end of 2010.
John Boyle, managing director of HomeLet, said: “The soaring cost of renting a home in the capital, compared to the rest of the UK, reflects how demand for rental properties is increasing due to people’s continuing struggle to get on to the property ladder.”
He added that London has also bucked the trend of rent values dropping in the weeks leading up to Christmas.
This goes against what property analyst Samantha Baden of Find a Property said earlier this month.
London Rental Property News
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