Annual rent growth for homes in London has risen by almost 20%.
Estate agency Hamptons said rents in inner London rose by 18.5% in the year to March, taking the cost of the average property in the city’s 12 most central boroughs to £3,046 a month.
Hamptons said a shortage of rental properties in London and across the UK was likely to worsen as buy-to-let landlords sell up.
“It’s this cohort of ageing investors who bought when the sector was growing rapidly that are now increasingly likely to sell up and cash out,” the agency said. “They leave behind a gap which is not being filled by new landlords entering the sector.”
The Times (£)
