London rents hit 15th consecutive high, as tenant enquiries triple

Average London rents have risen to a record of £2,627 pcm, now 12.1% higher than last year says Rightmove’s latest rental index.

One of the factors driving rising rents is not enough available rental properties to meet the demand from prospective tenants looking to move. The average rental property across Great Britain is currently receiving 25 enquiries from prospective tenants to letting agents, which is more than triple the eight on average they were receiving in pre-pandemic 2019 and five more than when this figure was last reported in May. Overall, the number of unique tenants looking to move across Great Britain is 41% higher than in 2019, while the number of properties available to rent is down by 35%.