Editor's note: This brief was summarised by The Property AI Team from a report by Property118. Read the original article for full details.
London Rental Supply Drops After Renters’ Rights Act, Data Shows
London rental supply has dropped following the introduction of the Renters’ Rights Act, according to new data reported by Property118. Findings from SpareRoom indicate that west London currently has the highest average rents and the lowest supply of available rooms in the capital.
SpareRoom’s data reveals that the average rent in west London stands at £1,043 per month, making it the priciest postcode area in the city. This area also has the lowest availability of rooms for rent.
The report highlights the impact of the Renters’ Rights Act on the London rental market, with a notable decrease in available rental properties since the Act’s introduction. The findings are particularly relevant for letting agents and inventory clerks monitoring supply trends and rental pricing in the capital.
Source: Property118