Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Al-Mayadeen's correspondent in southern Lebanon: Israeli occupation forces withdraw from the Blida municipality building two hours after occupying it, and the Lebanese army enters
Pakistani army: 6 soldiers and 7 militants killed in clash near the Afghan border
Israeli media: Sirens sound in the settlement of Kerem Shalom in the Gaza envelope area
Afghan source to Al Mayadeen: We still believe in dialogue and prioritize diplomatic solutions with Pakistan; though we are ready for all possibilities.
Afghan source to Al Mayadeen: Pakistan purposely obstructed negotiations in Turkey by making unrealistic demands.
Al Mayadeen's correspondent: More than 70 martyrs in Israeli attacks on Gaza since dawn.
Death toll from latest Israeli strikes on Gaza rises to 30
Al Mayadeen's correspondent: Five killed in the Israeli bombing of a civilian vehicle on Al-Qassam Street in Khan Younis, south of the Gaza Strip
Hamas confirms that it has no connection to the shooting incident in Rafah and affirms its commitment to the ceasefire agreement
Al Mayadeen's correspondent: Two civilians were killed and four others, including a child and an infant, were injured in an Israeli bombing of a house belonging to the Al-Banna family in the al-Sabra neighborhood, south of Gaza City

Record numbers of tenants flee London to escape soaring rents

  • By Al Mayadeen English
  • Source: Agencies
  • 13 Feb 2023 15:15
3 Min Read

As prices rise, tenants are fleeing London amid rising mortgage rates in the UK.

  • x
  • A pedestrian looks at the front window of a real estate agency displaying a selection of properties to buy or rent, in Oxford, on January 30, 2023. (AFP)
    A pedestrian looks at the front window of a real estate agency displaying a selection of properties to buy or rent, in Oxford, on January 30, 2023. (AFP)

Tenants are fleeing London in record numbers in search of more affordable and larger rental properties in the Home Counties, according to a new report.

Two in every five renters moving to London chose to leave the capital for good last year, up from 28 percent a decade ago, according to Hamptons estate agents.

The number of households fleeing the city reached 90,370, more than doubling from the previous year, and the highest since records began a decade ago. More than a third (38%) of tenants moved to the Midlands or North.

Spike in rent

Rents in London have increased by 9.1 percent since last year, driving the exodus. Due to high mortgage rates, some landlords have sold their properties, leaving tenants competing for a smaller pool of available homes, while other landlords are putting up prices that reflect the increase in mortgage costs. 

The average rental property in London cost £2,141 per month in January, up from £1,962 the previous year. The average monthly rent in central London has risen to £2,753. Rents in the UK have risen by 8.3% in the last year, the fastest rate since January 2014.

Tenants were drawn to areas bordering London, with Tandridge in Surrey being the most popular.

Related News

Mortgage rates in US hit highest in over 20 years: Report

Tory MPs warn mortgage crisis could cost them elections

Numbers recorded that half of Tandridge's renters (52%) came from London, while 46% of those moving to Epping Forest in Essex and Sevenoaks in Kent came from the capital.

Leavers were disproportionately from London's poorest areas, with more than 68% coming from the 50% most deprived areas.

Read next: Demand for rental homes in UK has risen by 23% in a year

Despite moving to more affluent areas, most renters were able to find a home that was nearly 28% less expensive than where they previously lived.

"The rapid recovery of London rents over the last year has left record numbers of tenants looking around for cheaper options," said Aneisha Beveridge of Hamptons.

“While the commuter belt is often prohibitively expensive for would-be first-time buyers, low yields mean renting remains relatively affordable compared to buying. The number of homes on the market here has increased faster than in the capital this year, tempting tenants to cross the M25.”

London emigrants are increasingly keeping their jobs in the capital while working remotely or commuting back and forth.

Rents, according to Beveridge, are unlikely to fall as landlords face "tough decisions" about whether to sell rather than remortgage at higher rates.

Beveridge reported that interest rates are expected to drop later this year, bringing some relief for landlords.

Read next: Soaring energy bills result in a trail of discord between tenants: UK

  • mortgage rates
  • inflation
  • UK inflation
  • London
  • United Kingdom

Most Read

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

'Israel’s Digital Iron Dome: Weaponizing the web against Palestine

  • Technology
  • 24 Oct 2025
Arab League chief exposes secret US deal shielding 'Israel’s' nukes

Arab League chief exposes secret US deal shielding 'Israel’s' nukes

  • Politics
  • 27 Oct 2025
Hi-tech holocaust: Microsoft’s role in Gaza genocide

Microsoft's role in world’s first AI-driven genocide, in Gaza, exposed

  • Technology
  • 28 Oct 2025
What Marr evidently didn't seem to understand was that Hedges isn't saying that Western journalists manipulate the truth, but that they systematically amplify Israeli narratives they know are false. (Al Mayadeen English; Illustrated by Batoul Chamas)

Western journalists know they have a case to answer for their betrayal of Gaza, and it frightens them

  • Opinion
  • 24 Oct 2025

Coverage

All
War on Gaza

Read Next

All
Displaced Sudanese who fled El-Fasher after the city fell to the Rapid Support Forces (RSF), rest near the town of Tawila in war-torn Sudan's western Darfur region (AP)
Politics

UAE directly funded RSF, leading to fall of El-Fasher: Sudan

'You’re not welcome in Greece': Israelis face port protests
Politics

'You’re not welcome in Greece': Israelis face port protests

This photo released by the Israeli military on Thursday, Nov. 2, 2023, shows ground operations inside the Gaza Strip (AP)
Politics

IOF soldier who fought in Gaza, Lebanon denied entry to Czech Republic

UN inquiry exposes 'Israel’s' four genocidal crimes against Gaza
Politics

'Israel' committed four genocidal acts in Gaza, UN inquiry finds

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS