Average room rents in the capital have dipped seven per cent compared to this time last year according to a flat-sharing website.
SpareRoom says this is down to Coronavirus, as room sharing is more heavily reliant on occasional visitors than more traditional flat or house renting.
The website says rents in west central are down no less than 16 per cent, with other double-digit falls in the East Central and North West London districts.
Drilling down to even smaller areas - postcodes - W10 (North Kensington) has seen a dramatic decrease in rent, dropping by 23 per cent, closely followed by WC1 (down 19 per cent) and SW8 (a fall of 18 per cent).
SW1 (Westminster / Belgravia / Pimlico) and WC1 (Bloomsbury / High Holborn), once unaffordable to many, might now attract new tenants, with rents down year on year from well over £1,000 per month to £927 and £878 respectively.
SpareRoom director Matt Hutchinson says: “Coronavirus is having a dramatic impact on all areas of life, including London rents. With rents and supply falling, we’re starting to see the entire city becoming more affordable, which could spur a flurry of movement as people seek out cheaper rents than they currently have.”
Room rents in the capital have dropped seven per cent in...
Data from PropTech platform SpareRoom suggests that London’s typical room rent...
London’s lettings market may never return to its pre-pandemic appearance according...
Average room rents rose by 10 per cent or more in...
The predictions game can be tricky. Sometimes you just don’t know...
Leading UK property auctioneer Bond Wolfe has broken through the £100...
Uncertainty triggered by the new Labour Government and taxation concerns that...
B-hive Block Management Partners Celebrates Major Milestone With Over 100 Businesses...
We’re absolutely delighted to announce that, after 10 years, we’re able...
You don’t have to simply accept things as they are when...
%20-%20IMAGE%20Client%20Accounting%20%E2%80%93%20what%20are%20your%20options.jpg)
The benefits for letting agents to outsource their client accounting is...
Who are you and what does it say on...
Who are you and what does it say on...
Who are you and what does it say on...
Join the conversation
Jump to latest comment and add your reply
No surprise, a decline of 20% to 25%, I said this months ago.
No need for so many rooms with all the single workers in the hospitality industry returning to the parental home.
Until noemality
Please login to comment