The cost of renting property is now more expensive than ever with the average price of a flat or a house in London now exceeding £1,750 a month, fresh figures show.
According to data collected by the Tenancy Deposit Scheme (TDS) rents have shot up across the country with tenants on average paying by far the most to live in the capital.
The figures, based on all new deposit registrations across England and Wales in August 2016 with TDS Insured, show that new average monthly rents in August hit £1,765 in the capital.
After London, the next highest cost region was the South East with the monthly rent coming in at £1,124.
The cheapest region to rent is Wales with average rents for newly let properties in August 2016 coming in at some £664.80. The next cheapest region to rent was the North East where rents averaged out at £652.88.
Steve Harriott, chief executive of the TDS said: “This data comes from landlords and agents registering new deposits on our database in August 2016 and advising us of the monthly rent that they charge. The figures show starkly the differential in regional rents across England and Wales.”
Property & Development Magazine is a market-leading group of media platforms, dedicated to the complete Residential Sector with a combined reach in excess of 50,000+ industry professionals. With the latest news, exemplar case studies, comment, interviews and feature articles from leading lights in the industry plus company spotlights and profiles, Property & Development aims to inform, inspire and spread best practice about all aspects of the residential sectors.
With a fresh and current approach, combined with the investments and inputs from our valued team, the magazine has attracted an engaged readership with subscribers including Management Level Executives and Key Decision Makers that is expanding week on week.
We offer a range of products and services across our platforms to best allow us to offer suitable marketing and exposure for all levels of companies and media partners. Please feel free to browse our Media Pack to see the options available or get in touch with a member of our team who will be more than happy to assist you.
Property & Development Magazine
