Average rent for a two bed home in London set to surpass £2,000 a month – Katar Investments


Average rent for a two bed home in London set to surpass £2,000 a month

Average monthly rents for two bedroom homes are expected to reach £2,000 by the late summer of this year, according to new research.

It currently stands at £1,867 per calendar month, up 2% already since the beginning of the year, according to the London Rental Market Report from estate agents.

Given that tenancies which begin in September are typically 11% higher than tenancies that begin in December, predicting that two bedroom rents will reach £2,008 per calendar month by September this year.

And with two people sharing the cost of a two bedroom home, that is £1,004 per calendar month each, this shared rent figure will use 46% of the average London monthly net salary.

The report shows that Ealing has seen the largest increase in rent at 6.9%, taking the rent for a two bedroom home to £1,825 per calendar month, followed by Richmond-upon-Thames at £1,934 for two bedrooms per calendar month, a rise of 6%, and Lambeth at £2,051, a rise of 5.8%.

The majority of London boroughs are seeing rent increases anywhere from 1% to almost 7% so for landlords who may be feeling under particular pressure given recent government announcements, this may provide some welcome news.