London asking rents hit record high with highest annual rate of 8.2%

• London’s average asking rents have increased by 8.2% in the last year, with the average rental property in the capital now averaging a record £2,093 per month
  • The 8.2% increase is the highest annual rise in London since Rightmove began reporting this data back in 2012, while average asking rents in London are up 2.9% on last quarter alone
• Demand outstripping supply with the number of available rental properties in the capital down by 33% compared with two years ago, while available rental stock has dropped 13% for the rest of Great Britain
• The upcoming Tenant Fees Act will cap rental deposits to five weeks of rent in England, making the cheapest deposit in the North East at £630 and the most expensive in London at £2,415