How expensive is it to rent in the UK? London rents hit record highs

Average advertised rents in London are now 5.3 per cent higher than last year, but there are signs that the pace of price increases is slowing, a leading property portal has found. Rightmove data published on Tuesday showed rental prices climbed by two pounds in the first three months of the year to a record high of £2,633 per month. While rental costs in the capital remain elevated, growth on rents has steadily slowed since the peak of 16.1 per cent in the third quarter of 2022. Many renters are likely to still struggle with costs and finding an affordable place to live due to poor wage growth- which has left employees in London around £50k worse off since 2010 – and rises in other household expenses. Read more on the story 👇 https://www.cityam.com/london-rents-hit-record-highs-but-price-increases-are-slowing/ Get more of City A.M. 👇 🌐 http://www.cityam.com X(formerly Twitter): http://twitter.com/CityAM Facebook: http://www.facebook.com/cityam Instagram: http://www.instagram.com/city_am LinkedIn: http://www.linkedin.com/company/cityam #renting #londonrenting #rentals #housing #accommodation #london #londonlife #costoflivingcrisis #news #cityamnews #news #newsexplained #rentprice