London rents rise eight times faster than wages

New research from the latest Buy To Let Index from LSL Property Services has found that the costing of renting in London has climbed eight times faster than wages over the year to an all-time high. LSL said that in March the average monthly rent in London stood at £1,106, a rise of 7.9% in a year. The increase compares with shop price inflation of 2.8% and far outpaces the average rise in earnings, currently running at 1%. It means an average £81 a month more is being eaten up by rent in London at a time when salaries have barely moved.

Source: Evening Standard

Myfanwy Neville

Partner: Property and Construction, Sustainability and ESG

T +44 (0)20 8922 9376
E Myfanwy.Neville@bkl.co.uk

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