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TODAY'S OTHER NEWS

Agency predicts London two-bed rents to top £2,000 pcm by late summer

Average monthly rents for London two-bed homes will top £2,000 by the late summer according to letting agency Portico. 

The average rent for a two-bed home in London now stands at £1,867 pcm, a two per cent increase from the beginning of the year. It claims that given tenancies commencing in September are typically 11 per cent higher than tenancies commencing in the previous December, it calculates two-bed rents will reach £2,008 pcm by September this year.

With two people sharing the cost of a two-bedroom home - so £1,004 pcm - this shared rent figure will be the equivalent of 46 per cent of the average London monthly net salary.

“The majority of London boroughs are seeing rent increases anywhere from one to almost seven per cent. For landlords who may be feeling under particular pressure given government announcements, this may provide some welcome news” says Robert Nichols, managing director of Portico.

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