Renters suf­fer as land­lords leave city

Evening Standard - West End Final Extra - ES Homes and Property - - News -

GEN­ER­A­TION RENT is be­ing squeezed out of the heart of Lon­don and deep into the sub­urbs as land­lords rid them­selves of ex­pen­sive cen­tral prop­er­ties and in­vest on the cap­i­tal’s fringes in­stead.

Ex­clu­sive re­search, pub­lished to­day, finds the num­ber of Lon­don homes avail­able to rent is down 17 per cent year on year. Yet de­mand con­tin­ues to grow. The dis­par­ity has pushed rents up to an aver­age £1,785 a month.

The study, by Hamp­tons In­ter­na­tional, found that the more ex­pen­sive the lo­ca­tion the big­ger the drop in homes to let. In Kensington, Is­ling­ton, West­min­ster, and Camden, the num­ber of avail­able rental homes has crashed by a third and rents have risen.

In Kensington & Chelsea and West­min­ster, the aver­age rent has topped the £3,000-a-month mark at £3,110 and £3,169 re­spec­tively. Aver­age rents in Is­ling­ton and Camden are now over £2,000 a month. There have also been VISIT

for de­tails of our usual pro­mo­tion rules. When you re­spond to pro­mo­tions, of­fers or com­pe­ti­tions, the Lon­don Evening Stan­dard and its sis­ter com­pa­nies may con­tact you with rel­e­vant of­fers and ser­vices that may be of in­ter­est. Please give your mo­bile num­ber and/or email ad­dress if you would like to re­ceive such of­fers by text or email. big drops in rental sup­ply in Ham­mer­smith, Rich­mond, Lam­beth and the City, with rents creep­ing up.

Far-flung bor­oughs such as Haver­ing, Haringey, Bex­ley and Bark­ing have all seen sub­stan­tial an­nual in­creases in the num­ber of homes avail­able to rent in the last 12 months. Un­sur­pris­ingly, aver­age rents in these lo­ca­tions are far lower than in cen­tral Lon­don. The aver­age monthly rental in Bex­ley, for ex­am­ple, is £1,100. How­ever, young renters pushed into outer Lon­don in search of value for money will have to fac­tor in higher trans­port costs if they want to work or so­cialise in Zones 1 or 2.

£1,400 a month: land­lords are head­ing for the dis­tant sub­urbs where prop­erty is cheaper and yet rental de­mand re­mains high. This three­bed­room house with a garage and off-street park­ing in South Bex­ley­heath is with Hunters (01322 535039) Find Ruth...

home­sand­prop­ rules

£3,358 a month: rental flats in prime lo­ca­tions, such as a one-bed­room home in this splen­did ter­race in Dun­raven Street, W1 are be­com­ing in­creas­ingly hard to find, push­ing up rents. Call Prop­erty Cen­tre Lon­don (020 8012 1254)

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.