It’s no secret that accommodation in the capital is on the pricier end, but renting in London has reached a depressing record high - with an eye-watering £2,480 per month the new average 🤯
In 2021, the average cost of rent outside of London was £1,068, and five years ago in 2018, tenants were paying an average of £909 per month.
Rightmove added that average asking rents in inner London surpassed £3,000 per month for the first time, hitting £3,010. ‘There appears to be some more property choice for renters compared to the record low levels of last year which would slightly ease the fierce competition to secure a home.‘This is why we’re forecasting that the pace of annual growth will ease to around 5% by the end of the year nationally, although this would still significantly exceed the average of 2% that we saw during the five years before the pandemic.
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