London rents reach new record as tenants pay £700 more per month than five years ago

London asking rents have reached their 15th consecutive record of £2,712pcm - (Matt Writtle)

London renters are paying £701 more per month than they were five years ago, new data from Rightmove shows.

The average asking price for a rental in the capital has risen from £2,011pcm at the start of the pandemic to a record £2,712pcm this quarter, representing an increase of 35 per cent.