England rental prices spike to ‘highest ever on record’ with London rates ‘obscene’

A property with four or more bedrooms in Westminster could cost you on average £7,323 a month.

While in County Durham this drops to £700 on average each month.

Olu Olufote, founder of the homeownership platform, RenterBuyer explained that the high rental prices mean it’s “no surprise” tenants are “desperate” to buy a property and get onto the ladder.

He added: “Psychologically, it can be deflating knowing that you’re paying so much for so little, especially in the capital where rents are borderline obscene.

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