The cost of renting in London is now 12.1 per cent higher than it was last year, as tenants dish out “record” payments of £2,627pcm to live in the capital.
Are they though? There are no good properties on the market, what is being sold is pretty much rubbish, which was always cheap. That skews the statistics.
And if you see something good, it’s very very expensive. I used to live in Kensal Green just a few years ago, there are just a few houses on the market and all the good ones are above £2m. They were below £1m just two years ago.
There was a huge amount of purchase and sale during covid due to the tax holiday. This had disproportionate effects on house prices compared to the period before it and the behaviour of the market is still not very predictable as a result.
As for good and bad, that’s a matter of budget and perception, though I appreciate anyone being frustrated with having to give so much for so little in a lot of cases.
Are they though? There are no good properties on the market, what is being sold is pretty much rubbish, which was always cheap. That skews the statistics.
And if you see something good, it’s very very expensive. I used to live in Kensal Green just a few years ago, there are just a few houses on the market and all the good ones are above £2m. They were below £1m just two years ago.
There was a huge amount of purchase and sale during covid due to the tax holiday. This had disproportionate effects on house prices compared to the period before it and the behaviour of the market is still not very predictable as a result.
As for good and bad, that’s a matter of budget and perception, though I appreciate anyone being frustrated with having to give so much for so little in a lot of cases.