Rents in the City shoot upwards

Residential rents in the City shot up by more than 30 per cent over the last year, real estate group the CBRE said yesterday. The average rent in the City is now over £3,000 per month. The figure “partly reflected a small number of exclusive new penthouses”. Elsewhere in London, the sharpest rise in rents were found in Newham, Greenwich and Tower Hamlets.