The average rent in London is £1,597 according to a survey of properties carried out by HMRC's Valuation Office Agency between September 2020 and September 2021. Between the years ending September 2020 and September 2021, average rents in London fell by £42. Compare average rent by area.
London's average rent of £1,597 is £699 higher than the £898 average rent in England. London is the most expensive region (of 9 total) based on average rent price.
The average rent growth rate in London between the years ending September 2020 and September 2021 was -2.6%. If rents continue to grow at this rate, average rents will fall to £1,439 by 2025.
The average cost of rent in London varies depending on property type, prices start at £655 for a single room and rise to £2,791 for a house with four or more bedrooms.
Rental data for London is based on a sample that may change over time. Some differences in trends may be due to changes in the sample rather than true changes in the rental market.
Within each property type, rent price can vary depending on variables such as property size and condition of fittings. For example, the lower quartile rent for two bed flats in London is £1,265, increasing to £1,733 for the upper quartile rent.
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Based on the 56,270 properties surveyed, the most common type of rental property within London is 2 beds, which account for 40.2% of properties. In England, the most common type of property is 2 bed flats, which account for 42.1% of the rental market stock.
The least commonly available type of rental property is Single Rooms, which account for 1.4% of properties. In England, the least common type of property is Studio flats, which account for 2.5% of the rental market stock.
The cheapest rents in London are found in Outer London, where the average cost of rent is £1,393. In the past year, rents have changed by -0.7% in Outer London (compared to -2.6% in London)
The most expensive rents in London are found in Inner London, where the average cost of rent is £1,839. In the past year, rents have changed by -6.7% in Inner London (compared to -2.6% in London)
Source: Office for National Statistics licensed under the Open Government Licence v.3.0. Contains OS data © Crown copyright and database right 2021. Data sources: ONS Local statistics