London Rental Stock Plummeted
As a whole, London rental stock has plummeted by 22 per cent in just one year according to a market snapshot by the listings website Home.
And the site claims that as a result of diminished London rental stock, 10 boroughs in the capital have seen rent increases of 10 per cent or more in 2019.
“Scarcity is driving rents up at a most alarming rate in a growing number of London boroughs” it says, noting that “top of the list is Wandsworth where tenants need to fork out nearly 20 per cent more per month than a year ago.”
The website says rent increases are also accelerating in the wider south east as the trend pushes out from the capital – across the SE as a whole, rents rose 6.2 per cent this year “and we expect this trend to continue in 2020.”
It says rents across the UK are up 7.6 per cent on average overall – but it cautions that this figure is skewed by the effects of London.