London’s rental market remains busy this autumn, driven by people coming back from holidays and workers returning to offices. Here is a resume of the latest DPS rent index report for Q3 2021 concerning London.
According to the Q3 2021 DPS Rent Index, London average rents are bouncing back with +1.90% compared to Q2 2021 and +1.29% compared to twelve months ago. Prospective tenants are still prioritising more living space and outdoor space. Property supplies are low and this should support continued growth in the next months.
- Average London rent is now £1,339 per month.
- Number of deposits protected in London increased by 17% compared to twelve months ago and 30% compared to six months ago.
- Detached houses saw the largest growth in average rent, from £1,764 to £1,857 (£93 or +5.27%).
- Terraced properties have seen a -£6 (-0.36%) reduction in average rent to £1,658 compared to Q2 2021.
- The top 5 most expensive UK boroughs to live in are all in London: City of London, Hackney, Westminster, Kensington & Chelsea, and Wandsworth.
- Average salaries in London are at £41,017, meaning that Londoners typically spend 39.48% of their income on rent, more than during the previous last two quarters of 2021.
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