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Rents skyrocketing in London according to latest index

Rents in Greater London are up an annualised 25 per cent, with much of the increase attributed to the stock of properties to let being down by 41 per cent over the same period.

The data comes from the housing website Home which says that rents in central London continue to skyrocket. 

The greatest rises in asking rents over the last year are in the City of London (up 98 per cent), Westminster (up 53 per cent), Kensington and Chelsea (50 per cent) and Hammersmith and Fulham (49 per cent), as demand returns.


“As the Covid exodus [from London] has gone into reverse, demand has returned and supply has plummeted. The result of this rapid recovery is that rents are back to pre-pandemic levels and therefore the fundamentals underpinning the value of property in the capital have been restored” says Home’s latest index.

It continues: “In fact, rents continue to rise in London, with every one of the 33 boroughs showing a hike in the mix-adjusted average during the last six months. Moreover, the greatest annualised rises are concentrated in the more central districts, namely the City, Westminster, Kensington & Chelsea, Hammersmith & Fulham, Camden, Tower Hamlets and Islington.”

Outside of the capital, the supply of rental properties is low or falling in all English regions, Scotland and Wales - down 24 per cent overall since December 2020. 



This is creating significant upward price pressure, says Home. 

Rents are up an annualised 7.2 per cent across the UK since January last year, and the pace appears to be picking up with 5.8 per cent of this rise occurring in just the last three months.

The largest annualised average rent hikes outside of London are in the East of England and the South East, up 7.0 and 6.1 per cent respectively.

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    It makes sense to make hay while the sun shines, we all know what's coming in the next few years.

  • George Dawes

    Just before ze grate reset , epc coming to make your property worthless. While council flats that won’t meet these daft pointless epc targets are exempt.

    Not really fair is it ?

    Theodor Cable

    Not at all fair.
    So what can we do about it?


    Maybe we should be buying the ex council flats in these blocks, how could we be forced to up grade our flats if the flats above and below still council owned are exempt, could make a very interesting court case

    • AQ
    • 18 January 2022 15:45 PM

    Take your meds George.

  • George Dawes

    That’s a very good idea !

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    Well that’s how it is at present with HMO Licensing. I had end of Terrace House for 20 years before HMO came along, exactly same house as mine next door just 1.2m passage between us. I was required to licence but next was not and let to a Housing Association. There was about 10 persons staying there all on Benefits obviously they were housing their friends as well for financial gain. However I decided not to license but sell, the Council said if I didn’t license they would block the Sale. OK I done all the work/ fire doors hard wired fire alarms, emergency lights etc, got licensed and then Sold. The Purchasers changed it all about it was pointless forcing me to do it. Anyway that’s your answer you’ll have to do it they won’t this is no isolated case.
    End of 2007 just got out before crash, another similar property same road was for sale same time but missed the boat it sat there 6 years at same price before it sold.

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    I would love to understand more about how these calculations are made, I personally haven't experienced rents in Hammersmith and Fulham being up 49% on last year. They are back at pre-covid levels though. Personally, I think they were down 10-15% during the pandemic and are now back at 2019 levels.

    I am guessing there will be some exemptions to the EPC - similar to the ones they have in place now - the devil is the detail. I'll put in PVC windows but, it just isn't realistic to add insulation internally to a Victorian flat.

  • icon

    Yes they were well down in Hammersmith and before Corona too. I work on Refurbishment a property in the heart of it, it didn’t let for good money either, would have got same rent on outskirts where property is much cheaper to buy. What a stupid place £8.00 parking before midday & £8.00 afternoon = £16.00 pd, morons and difficult to find a space, working under duress hasn’t H’smith changed.


    Aren't I just so pleased just to be a simply Norfolk boy investing locally, you can keep your London or ''the smoke'' as we used to call it , sorry Michael I have a great respect for you and fully agree with much of which you say on here but London NO NO NO


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