London rents 'to rise by Christmas'

Posted: 24 Aug 2011 12:01:40 GMT

Rents in the capital are to increase by £15 a week come December, it has been found.

Rents in prime central London are set to markedly increase by Christmas, new research has shown.

According to findings from property consultants Cluttons, such costs will rise by an average of £15 a week come December, climbing from £1,037 every seven days to £1,052.

This means rents in the centre of the capital are to swell by £780 a year, which also represents a 30 per cent hike on figures recorded in December 2009 - when the costs amounted to £809.

Lynn Hilton, partner for residential lettings at the company - which has roots stretching back to 1765 when William Clutton took over a surveying business owned by his father-in-law - said: "Tenants are stuck between a rock and a hard place, with many struggling to buy in London due to high prices and little opportunity to save a deposit."

The industry figure suggested renters need to improve their flexibility with regard to location, sharing arrangements and standard of property in order to offset the escalating costs.
 

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