How expensive are private rents in the UK?

How expensive are private rents in the UK?

English Housing Survey data on attitudes and satisfaction includes data on levels of public satisfaction with housing and community issues. It receives an update this summer. The update shows a stable level of satisfaction with housing among various age and income groups. The data shows that private renters are generally more satisfied with the way their landlords carried out repairs and maintenance than social renters.

At the same time, private rent goes up for on average 1.7% since July 2019 (ONS data). The ten most expensive London boroughs are the following:

Borough	                Average rent, £ pcm
-------------------------------------------
Kensington and Chelsea	    	3,208
Westminster	                2,832
Camden	                   	2,427
City of London	           	2,377
Hammersmith and Fulham	    	2,070
Inner London	            	2,028
Richmond upon Thames	    	1,896
Islington	                1,895
Hackney	                   	1,834

The average rent in London was £1727 in July, while across the whole of England it was only £858. London had the highest median monthly rent at £1,425; this is more than double the median monthly rent for England. The North East had the lowest median monthly rent at £495.

The most expensive local authority is Kensington and Chelsea. The median monthly rent was £1,700 in Inner London and £1,295 in Outer London. For Inner London, the highest median monthly rent was in Westminster (£2,492), and the lowest median monthly rent was in Lewisham (£1,300). For Outer London, the highest median monthly rent was in Richmond upon Thames (£1,550) and Bexley, Croydon and Sutton exhibited the lowest median monthly rent was shared (£1,100).

As rents slowly go up, UK private renters remain satisfied, a survey shows.

ORACLE CAPITAL GROUP is an investment and real estate development consultancy specialising in residential and commercial property projects.

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