Survey
Renting a home in London is becoming increasingly expensive, according to a recent survey of estate agents. The survey found that rental prices in the UK capital are significantly higher than reported by official figures.
The survey, conducted by the Royal Institution of Chartered Surveyors (RICS), asked estate agents to report on rental prices in their local area. The results showed that rental prices in London were much higher than the official figures from the Office for National Statistics (ONS). The ONS figures showed that rental prices in London had risen by 1.3% in the last year, while the RICS survey found that prices had risen by 4.3%.
The survey also found that the average rent for a two-bedroom property in London was £1,719 per month, which is significantly higher than the ONS figure of £1,543. This means that Londoners are paying an average of £176 more per month than the official figures suggest.
The survey also revealed that the number of properties available to rent in London has decreased significantly over the last year. This is likely due to the fact that more people are choosing to buy property instead of renting. This has resulted in a decrease in the number of properties available to rent and an increase in rental prices.
The survey also found that rental prices are highest in the most affluent areas of London. In the boroughs of Kensington and Chelsea, Westminster and Camden, rental prices are significantly higher than the London average. This means that those living in these areas are paying much more for their rental property than those living elsewhere in London.
The findings of this survey show that renting a property in London is becoming increasingly expensive. This is likely to have a negative impact on those who are unable to buy a property and are forced to rent instead. It is important that the government takes steps to address this issue and ensure that renting remains affordable for those who cannot afford to buy.