Londoners face further rental rate increases

 
Edith Hancock
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Kensington and Chelsea tops the board for most expensive rents (Source: Getty)
There is no slowing down for rental rates in the capital, with the average cost per month for a one-bed flat coming in at over £1,000 in three quarters of boroughs.

Only nine London boroughs have average rents for one-bed flats below £1,000 per month now, according to the monthly Landbay Rental Index.

This is down from 11 at the start of the year, after Waltham Forest and Harrow climbed into the £1,000 per month group back in spring.

Kensington and Chelsea tops the board for most expensive rents for one-bedroom properties, averaging £2,275. Bexley offers the cheapest average one bedroom rent prices at £791.

A Londoner paying rent of £1,000 a month has to earn £31,200 before tax to avoid spending over half of their net income on rent.

John Goodall, co-founder and chief of Landbay, said: “The city is a victim of its own success – the magnetic draw of its jobs market and its vibrant culture mean that there is a constant supply of people willing to pay to live here.”