Owners of buy-to-let properties in London have a reason to celebrate, as the city continued to top the list of rent rates. The median rent in London (£1,495) was more than double the English median rent between April 2016 and March 2017.
The Private Rental Market Summary Statistics for 2016-17 released by the Valuation Office Agency shows that London properties continue to command the highest rents. The median rent was £1,495, with an interquartile range of £1,200 to £1,950.
Within London, rents were generally highest in Inner London, where the median rent was £1,699. The highest median rent in London, and in England, was in Kensington and Chelsea (£2,611) while the lowest median rent in Inner London was in Lewisham (£1,257).
The median rent in Outer London was £1,300. The highest median rents were in Richmond upon Thames (£1,500) and Brent (£1,499) while the lowest median rent was in Havering (£1,050).
Properties with more bedrooms generally had higher median rents, with properties of four or more bedrooms having the highest rents. The significant difference in median rents between studios and rooms was driven by big price differences between these categories in London and the South East.
This release provides statistics on the private rental market for England. This is an update to a previous release last published on 17 November 2016.