Outside London, rates rose to an average of 9.7%. After 2021, the rental rate is going to increase excessively.
London: Living in Britain’s capital city will cost more. House rents are soaring in London. Many landlords are reportedly paying an average of Rs 2.5 lakh (GBP 2,480) and many are trying to increase their rents. In some places, the rent was up to three lakhs. The increase in rent along with the increase in electricity rates is affecting foreigners including Indians who have come to London for work and other purposes.
According to the Telegraph report, the rent reached Rs 2.5 lakh in the last quarter of last year and this year it has increased to Rs 3 lakh. Last year saw the second largest rent increase in history. Outside London, rates rose to an average of 9.7%. After 2021, the rental rate is going to increase excessively.
According to a Metro News report, many of the house renters are using it as a means of earning extra money. A bank employee in Dalston, East London, has leased two unused parking areas of his house for six years. The rent is Rs 7 lakh. He had advertised online asking a rent of Rs 10,000 per month.