London’s average advertised rent has hit a record £2,825 per month, as the capital’s rental market tightens further with supply falling and demand rising.
New quarterly data from property portal Rightmove shows asking rents in London climbing 3.2% annually — outpacing growth outside the capital.
The supply squeeze is acute: total available rental listings in London are down 9% year-on-year, while newly listed properties have fallen 7%.
At the same time, tenant demand is up 6% compared to last year, intensifying competition for the shrinking pool of homes.
Outside London, average advertised rents have also reached a record £1,418 per month, up 1.5% this quarter. Annual rental growth nationally has moderated to 2.4%, down from higher rates in previous years.
Lower-priced areas across Britain are seeing the fastest rental growth, though London ranks as the third fastest region for annual rent rises.
For London renters, the figures underline a market where fewer homes are chasing more tenants — pushing asking rents to new highs.
London Streets has been covering the Tower of London skyscrapers and the Fitzrovia hotel this week.
