London rents soar 20.9% in five years

London rents soar 20.9% in five years
Rents for private housing in London have risen by more than a fifth since 2010, official figures show.

The 20.9% increase is the fastest of any region in England and almost double the national average rise of 12.5%, according to the Office for National Statistics (ONS).

It is also six times that of the North East (3.4%), where rents have risen the slowest.

Separate ONS data highlighted how the average household's disposable income has risen by just 4% between 2010 and 2015. This means that, in many parts of England, it has not kept pace with rental rises.

Campbell Robb, chief executive of housing charity Shelter, said many households were struggling to keep up with the "relentless" hikes.

"Millions of private renters are bearing the brunt of our housing crisis, forking out a huge chunk of their income for rent each month and coping with relentless rent rises.

"Every day we hear from families stuck in the rent trap - left with no choice but to stay in expensive and unstable private renting, and unable to save for a stable future in a home of their own.

"We have shown that Government schemes like Starter Homes will only help the well-off, not the majority of Generation Rent who are working hard for average wages.

"If the Chancellor is serious about fixing our drastic housing shortage and giving hope to the country's struggling renters, he must invest in the genuinely affordable homes we so desperately need."

Below is the change in average rents for private housing in England since September 2010:

- London: 20.9%

- SE England: 11.9%

- Eastern England: 8.5%

- SW England: 8.3%

- East Midlands: 7.2%

- West Midlands: 6.7%

- Yorkshire & the Humber: 4.4%

- NW England: 3.9%

- NE England: 3.4%

London Property Boom: £25m House For Sale

The most viewed properties
See Gallery
London rents soar 20.9% in five years

In Zoopla's list of the most viewed properties in recent weeks, this whopper comes in at number 9.

The £2 million property in Doncaster has planning permission to be turned into a hotel or wedding venue, and has been seen a whopping 14,000 times in a month.

This two-bedroom flat in Canary Wharf is on the market for £675,000. The attractions of imagining your life in a warehouse conversion with plenty of space and light means that 16,000 people have looked at it in a month.

This new five-bed property in South Oxfordshire is an excellent example of how much prices have risen in that part of the country - with an asking price of £1.195 million.

Clearly the attractions of being near Reading (without actually being in Reading) are driving enormous demand - with 37,000 views in a month

This five-bedroom detached house in Skelmersdale is on the market for offers over £210,000. The fact that such a normal-looking family house has been seen by 45,000 people in a month owes something to the fact that the owners built it themselves - to a particularly high spec - and as a result it is pricey for the area.

This four-bed detached house doesn't look particularly striking from the front, so it must be hard to see why it's worth £299,950 - an impressive sum for the area. This goes some way to explaining its 69,000 views in a month.

All is revealed round the back, however, as the property opens up in acres of glass to reveal spacious open-plan living.

This newly built seven-bedroom detached house has enough attractions to justify the £3.25 million price tag (not least the underground car showroom with space for 30 cars). The 73,000 views may also have something to do with the elegant writing style of the estate agent.

Phrases used in the listing include: "This must be the jewel in the crown for Royal Sutton Coldfield gentry." And: "The rear garden is enchanting."

On the outside it's a bog standard terrace in Bootle, Merseyside. But on the inside its a dramatically refurbished property with statement lighting aplenty.

It's no wonder this £85,000 property had 80,000 views in a month - and is the third most-viewed home.

A two-bedroom flat in the former home of Arsenal Football cub is on the market for £660,000. Clearly die hard fans have been captivated by the idea of living in this iconic building - complete with a grass courtyard with plenty of room for a kick-about. It has been viewed an impressive 95,000 times, making it the second most viewed property.

But the most viewed home in the country is the six-bedroom Lindisfarne Farm in County Durham - on the market for just £175,000.

An incredible 475,000 people have seen it in the past month, drawn by the enormous rooms, the incredible views, and the idea of being able to live a simple life, away from it all, for just £175,000.


Read Full Story