Gain valuable insight into London rental prices
Map of London rental prices
If you’ve got rental properties in London, or are thinking of investing in property in the area during 2010, then you can now gain an important insight into rental property prices in the capital.
London Mayor, Boris Johnson, has launched London Rents, a website providing a look the rents achieved at properties across London. Although still in its early stages, the site currently has rental prices for about 11,009 properties in the capital and provides useful information about the average cost of renting a property. The information has been gathered from a sample of private tenancies created over the last 12 months and the aim is to update the information on a monthly basis.
With regular details being uploaded onto the site, it should give a fairly accurate picture of the state of property rentals in London.
The site is a treasure trove of information for landlords as well as tenants If you’re not familiar with the city, then the colour-coded map of rental prices provides valuable information about the areas where the highest and lowest rents can be gained, which could help in your decision-making process of where to buy rental property.
For example, Dartford is currently shown as the cheapest place to rent, where the rental price of a two bedroom property averages out as about £160 per week. The most expensive area in London is South Kensington, where the landlord of a two bedroom property gets an average of £625 per week.
With London being of the largest private rental sectors in England, with over 650,000 properties available for rent, the site looks promising so far and we look forward to seeing how it progresses over the months to come.
What do you think? Will the site be useful for your property rental business?
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One of my friend going to London next month.He should get the information about good and bad about the London.I will recommend him to read your post.Thanks for sharing your experience with us.
This is really good blog. I was completely unaware of this London Rents scheme before reading this. I have looked at this now and I like how it gives you the rental rates for each specific area of london and the many different types of renting options.