UK Landlord Forum / Life

Rents in London are soaring by almost eight per cent a year as tens of thousands of would-be house buyers scrap plans to get on the property ladder.

Landlords say they have seen the strongest demand from tenants for decades following a collapse in property purchases since the start of the credit crunch.

Young buyers have been effectively driven out of the market and into renting by the disappearance of 100 per cent and 95 per cent mortgages.

Borough   Average monthly rental
Westminster   £1986
Kensington & Chelsea   £1725
Islington   £1480
Wandsworth   £1426
Tower Hamlets   £1407
Camden   £1393
Hammermith & Fulham   £1379
Kingston   £1362
Lambeth   £1263
Hackney   £1248
Merton   £1245
Southwark   £1244
Ealing   £1228
Richmond   £1201
Brent   £1156
Barnet   £1141
Newham   £1116
Haringey   £1114
Greenwich   £1093
Hounslow   £1087
Waltham Forest   £1065
Croydon   £1008
Harrow   £1023
Enfield   £1012
Hillingdon   £985
Redbridge   £981
Bromley   £969
Lewisham   £961
Barking & Dagenham   £929
Bexley   £897

That's data from gumtree. Of course, it's not very comprehensive because it's just an average of overall property, and not by property type i.e. how many bedrooms.

More here

Hi there,

I agree house prices appear to be increasing rapidly even the cost of renting property appears to be leveling out in London. According to the latest report one of the leading estate agents in London, the average rental house price in London rose from £161,777 to £162,900 last month, an increase of 0.8 per cent and an annual rise of 0.3 per cent and it will continue increasing too. Even the rental prices are based on the areas as well.