Renters are leaving London at the highest rate in a decade, according to new research.

London renters leaving capital

In 2022, 40% of tenants who were moving home chose to leave the capital, up from 28% 10 years ago.

Also, ‘Soaring costs for tiny rooms with nightmare landlords are forcing many London renters to move to the outer suburbs, or even leave the capital altogether,’ reported the Evening Standard in December 2022.

This trend shows no sign of slowing even though homeowners are slashing prices across UK.

It seems the capital is too expensive for renter but they still can’t afford, or want, to get on the property ladder.

Rental prices

It isn’t just London that has seen a steep rise in rental prices, it is a nationwide issue.

This has impacted on students who are were also struggling to find accommodation as the academic year began.

According to Hamptons: “The average GB rent crossed another threshold (in August), reaching the £1,300pcm mark for the first-time – just 11 months after surpassing the £1,200 mark, and 37 months after passing the £1,000pcm milestone. This equates to a rise of 29% or £296 a month since January 2020, the eve of the pandemic.”

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