Home rent growth increases in London

uk-house-pricesProperties in London are so expensive. The research looks at average monthly rental prices for one and two bed flats in London where there is a severe shortage of affordable properties to rent or buy and examines how much it would cost for an average three bed house in all 33 London boroughs.

Dan Gandesha, chief executive officer of Property Partner: “Demand for larger rental properties has grown finding affordable accommodation is increasingly difficult. Those unable to buy but hoping to move up the rental ladder may just be able to make ends meet in outer London boroughs. Although everyone knows Kensington and Chelsea, and Westminster, are totally out of reach on an average London salary, the surprise comes with Camden and Islington too, The age of the so-called second-stepper renter has not arrived. In fact at this rate, it looks like it may never come. Even in the cheapest borough, Bexley, a couple would have to fork out £15,732 a year of their joint net income to pay the rent on a three bed home.”

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