London rental market makes up 4.3% of city GDP

Around £21.4bn is generated in rental income in London alone, which equates to some 4.3% of the city’s GDP, according to new research from Sequre Property Investment. It found that the capital topped the list as the region with the highest rents and the most privately rented homes. Across the UK, the average tenant pays £12,636 in rent each year, equating to total rental income in excess of £69.4bn across the 2.2m privately rented homes, worth 3.2% of the country’s total GDP. Since the third quarter of this year, London rents have begun to climb again and are back up to 2019 levels and in some areas, maybe slightly higher.

City A.M.