London Q3 2021 DPS Rent Index

London’s rental market remains busy this autumn, driven by people coming back from holidays and workers returning to offices. Here is a resume of the latest DPS rent index report for Q3 2021 concerning London.

According to the Q3 2021 DPS Rent Index, London average rents are bouncing back with +1.90% compared to Q2 2021 and +1.29% compared to twelve months ago. Prospective tenants are still prioritising more living space and outdoor space. Property supplies are low and this should support continued growth in the next months.

Average London rent is now £1,339 per month.
Number of deposits protected in London increased by 17% compared to twelve months ago and 30% compared to six months ago.
Detached houses saw the largest growth in average rent, from £1,764 to £1,857 (£93 or +5.27%).
Terraced properties have seen a -£6 (-0.36%) reduction in average rent to £1,658 compared to Q2 2021.
The top 5 most expensive UK boroughs to live in are all in London: City of London, Hackney, Westminster, Kensington & Chelsea, and Wandsworth.
Average salaries in London are at £41,017, meaning that Londoners typically spend 39.48% of their income on rent, more than during the previous last two quarters of 2021.