Breakdown of current averages of two bed rental properties in each of London's boroughs.
Property asking prices skyrocketed to a new record high in the capital last month with the average house price now more than £552,000.
The property website Rightmove has tripled its predicted house price rise, as it reported that prices in London went up by 8.2% last year.
Figures from Rightmove reveal:
- The number of rental property pages people are looking at is up 80% over the past two years
- Rental stock has increased by 20% the past two years
- Around 60% of all stock in London on Rightmove is for rent
- There are more rental properties than for sale properties in London every month
- Prospective tenants are searching on the go: mobile now accounts for around 40% of all page views
- Email enquiries per property are up 50% in the past two years
Asking prices for houses in London have gone up by 7% since last year, the biggest jump in the country.
The new figures from Rightmove show the average house price in London is more than £500,000.
House prices in the capital have increased dramatically more than predicted at the start of the year. So are we heading for another bubble? Our resident property expert Kate Faulkner is here to explain what's happening.
The average asking price for a London property has surged past the half a million pound milestone for the first time this month, standing at £509,870 typically.According to property website Rightmove, prices in the capital are 8.6% higher than a year ago and more than double the national average.