Affordability in the private rented sector in London is now worse than for the average homeowner.Nick Barnes, Head of Research
The latest Homelet Rental Index reveals that growth in average rents in London slowed to just 0.1% between August and September compared to 2.4% in the previous month. Average rents in the Capital now stand at £1,466 pcm - 9.4% higher than in September 2013.
NB comment: Affordability (as measured by income versus housing costs) in the private rented sector in London is now worse than for the average homeowner. Average rents have risen in almost every month since the end of last year and according to the GLA now account for around 46% of average earnings.