London rents now 75% more than in rest of UK

Friday 27th April 2012

The cost of privately renting a home in Greater London is now 75% more expensive than in the rest of the UK.

It now stands at £1,158 a month, more than 6% higher than a year ago. HomeLet also says that London tenants’ incomes are now 3.5% lower than a year ago.

Over the UK as a whole, average rents are £764 a month – 5% higher than a year ago.

Taking Greater London out of the equation, average rents across the UK are £661.

The HomeLet Rental Index shows agreed rental prices from over 3,000 letting agents each month, rather than prices that are advertised on property portals. The latest figures cover March.