London rents strong vs the rest of Great Britain

Residential Rents Per Month

Residential Rents Per Month

Research is showing that the Private Rented Sector in London is far stronger than that of the rest of the country.

In London, rental growth averaged 6.8 per cent compared to 2.3 per cent in the south east and 1.5 per cent for the rest of Great Britain. In the first quarter of 2013 the average monthly rent for a two bedroom property in London was £1,850. In the south east it was less than half of that at £846 while the average for the rest of Great Britain was a third of the London level at £576.

London rents continue to rise while rental growth stagnates across rest of the country. This is due to the difference between the rental market in London – where rents are driven by employment and overseas occupiers as well as domestic demand – and the rest of the country.

Statistics

£1,850
average monthly rent for a two-bedroom property in London in the first quarter of this year

£576
average monthly rent for a two-bedroom property outside London and the south east in the first quarter of 2013

6.8%
average rental growth per year in London over the past three years

1.5%
average rental growth per annum outside London and the south east over the past three years

The statistics are based on 470,000 tenancies.

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