Greater London experiences sharp rent rises

Written by Oliver Wade

Greater London has experienced a sharper rise in asking rent prices than anywhere else in the UK for the first time in over three years, according to new statistics from Rightmove.

Asking rental prices in Greater London have increased to an average of £2,000 per month in the second quarter of this year, rising by 3.4 per cent compared to the same period last year. The data further revealed that the rise in rents has been driven by a lack of new rental properties coming onto London’s housing market.

The volume of properties coming to the market available to rent in Greater London dipped by 3.5 per cent in the second quarter of this year compared to the same three months in 2017, while listings outside of the capital increased by 2.4 per cent over the period.

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