Rents in London have increased by a “staggering 32 per cent” in the last three years, according to an expert.
Tim Morgan, director of Emerging Real Estate, said that this was significant, given that throughout the rest of the UK, increases in rent have been around seven per cent.
International movers heading to the capital shouldn’t necessarily be put off by escalating prices – it is running in accord with what appears to be returning prosperity.
Mr Morgan said that the number of job opportunities available in London is “causing migration and ultimately contributing towards the growing population and increased demand for properties in the city”.
“Top talent and high fliers are attracted to the high quality of life of which a city offers, with socio-demographic insight also revealing that these individuals are getting married and having children later in life in a bid to pursue their careers,” he expanded.
“All this means that work availability, transport, cafes, entertainment, shops, et cetera are becoming increasingly important and London is a prime location for all of these amenities.”