London rents jump by more than 25%

Residential rents in London have increased by 27.4% since David Cameron became prime minister.

Buy-to-let index shows tenants in London pay an average of £1,177 rent per month

The latest buy-to-let index from estate agents Your Move and Reeds Rains also reveals that the national average for residential rent went up 15.2% cent over the past five years, according to the report.

In the time since voters last went to the polls, the asking price for a London home coming onto the market with property portal Right Move has increased by 27.5% or £84,874, while Consumer Price Inflation has climbed by just 11.6%.

The mean monthly rent in London is now £1,177, while nationally tenants pay an average of £768 per month.

Adrian Gill, director of Your Move and Reeds Rains, has called on politicians to tackle Britain’s housing crisis by building more homes.

“Without more homes every year to match a rising population, housing will inevitably become more expensive,” he says. “Over the next five years politicians of all stripes can’t just hope that this problem will go away – Britain needs more homes.”