As expected, London continues to be the most expensive UK region in which to rent property. The capital saw a £13 (0.98%) increase in average monthly rent, rising to £1,345 from Q3 2019. North West London rents haven’t seen any significant changes.
- Year on year the value is even higher, average monthly rent in the region has climbed by £55 compared to this time last year.
- By property type, the biggest increase can be seen in detached properties, where average rent has gone up from £1,735 in Q3 to £1,776 in Q4. This is a rise of £41 and is the largest increase in property type across the UK.
- Terraced properties, on the other hand, have become a little cheaper to rent, with average rent falling by £20 to £1,594.
- On average, people in London spend 42% of their £38,992 salary on rent, which is far higher than the UK average of 30.80%.
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