London rents rise to record high for 14th consecutive month [Yahoo! Finance]
RIGHTMOVE PLC UNSP/ADR (RTMVY)
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Source: Yahoo! Finance
Outside of London, the average advertised rent has also surged, climbing to £1,349 per month, another new high. The figures from property site Rightmove ( RMV.L ) showed that the average advertised rent in London is now 2.5% higher than this time last year, despite an increase in the supply of rental homes. In March, the number of new properties coming onto the market was 11% higher than last year, while the total availability of rental homes is 18% above 2024 levels. Yet, the number of prospective tenants seeking to move is 7% lower than at the same time last year. Read more: 9 celebrity homes with star quality Chippenham in Wiltshire has emerged as the country's rental price hotspot, with rents up 16.4% from £930 to £1,082. Stockport, Greater Manchester, has also seen significant rent increases, up 16.1% from £982 to £1,141. Over the past five years, rent increases have outpaced wage growth. Since 2020, average earnings have risen by 31%, while rents have jumped by 40%. R
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