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ValPal
London rents now averaging over £1,750 per month

The average rent for a new tenancy in London during August was £1,765 per month, according to data from the Tenancy Deposit Scheme.

This was by far the highest in England and Wales, almost £650 more than the £1,124 recorded in the South East – which was the second highest.

The only other region to have an average monthly rent above £1,000 was South Central (£1,123). 

Wales and the North East were the cheapest regions for rents on new tenancies during August with respective average figures of £664 and £652.

The most expensive postcode for new tenancies was London WC with an average monthly rent of £2,272. 

SR in Sunderland was the cheapest postcode, with an average rent of £462 per month.

The Tenancy Deposit Scheme crunched the data by analysing over 30,000 new deposit registrations where the letting agent or landlord supplied rental data during August. 

The firm's managing director, Steve Harriott, described the regional differences in rents across England and Wales as 'stark'.

Last week, Landbay reported that the average rent for a one-bedroom property broke the £1,000 per month barrier during August.

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