The cost of renting in London is now 12.1 per cent higher than it was last year, as tenants dish out “record” payments of £2,627pcm to live in the capital.
Some were cheering a house price crash with rising interest rates but the collateral damage has been on renters as landlords either 1) pass on the increase in their mortgage payments to their tenants or 2) sell the property to someone who wants to live in it taking it out of the pool of available properties and putting upward pressure on rents.
Some were cheering a house price crash with rising interest rates but the collateral damage has been on renters as landlords either 1) pass on the increase in their mortgage payments to their tenants or 2) sell the property to someone who wants to live in it taking it out of the pool of available properties and putting upward pressure on rents.