The latest rental market snapshot from the property website Home talks of “a nightmare scenario for London landlords”.
Firstly, it says rents continue to plummet in Greater London, down 17.0 per cent year-on-year overall compared to 2020. Worse still, some boroughs registered reductions in the average rent in excess of 30 per cent.
Secondly, it warns that Greater London has worsening over-supply. Thirdly, Home suggests that London is likely to be suffering some of the country’s highest rent arrears, fuelled by Coronavirus.