London rents reach a record high as supply shrinks and demand climbs

Demand for rental homes in London 'remains high and I do not see a great glut of stock on the horizon,' says Sarah Tonkinson of Foxtons.

London rents are rising faster than in any other region, with the average asking rent in Inner London topping £3,000 pcm for the first time.

'2022 has been a record-breaking year for rental growth,' says Hamptons. 'But even so, rents have failed to keep pace with wider inflation, and indeed landlords’ rising costs.'