If you are wondering whether London is still offering high rent rates in the wake of the recent political developments, the answer is ‘yes’. For, the ‘Private Rental Market Summary Statistics’ released by the Valuation Office Agency reveals median monthly rent in London was £1,473 and it is the highest for any region in England.
The data set used is based on a sample of 509,880 rents recorded for private properties across England between October 2015 and September 2016. This validates our internal finding that the rent rates in London remain high and continue to offer attractive returns to buy-to-let investors.
The second highest median monthly rental of £850 was recorded in South East England. The North East region had the lowest median rent at £480. The median monthly rent recorded across England was £650. This clearly establishes London ahead of any rental market in England.
Within the capital city, London had the biggest variation in rental values across all bedroom categories. In Central London, the median rent was £1,668 with the highest being £1,950. In Outer London, the median rent was £1,300. So, investing in London residential properties is a wise decision. If you are interested in a buy-to-let property in London, do not hesitate to call our office for a better insight into the market.
London rents were generally much higher than rents in the other regions. London also had the largest interquartile range (middle 50 per cent of monthly rent values), with the lower quartile (lowest 25 per cent) for London being higher than the upper quartile (highest 25 per cent) for every other region