Business News

Has Brexit affected rent in London?

By  | 

In all the uncertainty surrounding Brexit, we already know that the housing market isn’t doing all that great at the moment. There’s a lot going on with the economy of Britain and London in particular and more of it is unpleasant news at least in the short term. Research from Rightmove is showing that the London property market, in particular, has seen a drop in prices of about 0.5% and considering it’s been growing with a steady pace of about 5-10% per year in the past 15 years, that’s definitely a negative sign for future buyers that are planning to invest in Britain’s capital.

Long term and portfolio buyers are expected to do fairly well because they already own the property and it’s not expected that houses will go down in value much more than they already have. With all that said, how is the rental market doing and what can you expect if you’re just moving to London yourself. The bad news is that housing stock in London is still scarce and that isn’t expected to change any time soon. The city is constantly growing even though Brexit is still somewhat of a lurking threat. If you’re just moving to London, it’s good to know that the London transportation system is probably one of the best in the world and you can get anywhere pretty quickly using the tube.

There are different parts of the city though and the further away you go from the city’s center, the less you can expect to pay and vice versa. This is where a London tube map can come in handy, especially if it has the average rental prices per week of properties near every tube station in the city. Royal Cleaning has made research using data from Zoopla collected in March 2019 and all the data has been systematized so it’s easier to use and understand. You can also find out which parts of the city are still the most desirable as the rent is still going up against all other odds. The data in this map is compared to a similar one created back in 2018 during the same period, so the change reflects an increase or decrease in rent for the past 12 months.

impact of brexit on house rent
Image Source – Royal Cleaning UK

Download in full resolution here – Royal Cleaning UK

Hopefully, savvy renters will find the map useful and it will use it as a tool in their search for you’re a new place in London.

Sharing is caring
More in Business News
How to get business visa for UK (What you must know about UK Entrepreneur visas)

Know how to get business visas to the UK and start your new business When it comes to starting a...

Preparing to Buy Property in the UK

Property investment is one of the most popular ways to invest in the United Kingdom. In recent years, according to...

The Madness of Steve Jobs Told by Steve Wozniak

If you want some inspiration to start a build your own business in the UK, watch the madness of Steve...

about brexit
Brexit: What now?

Some two years and one month after Theresa May triggered Article 50 of the Lisbon Treaty, Britain is still no...

ecommerc oppurtunities around the world
The Best E-commerce Opportunities Around the World

International expansion of your business is now easier than ever before, owing to the flexibility given by e-commerce opportunities. If...