Londoners struggling to find rental properties

Tenants in London are struggling to find places to live after a significant drop in the number of flats and houses on the market. The number of rental properties available in the capital last month was down 44% on 2021, and 25% below levels seen before the pandemic, according to new figures. Numbers are down in all 32 boroughs, and the City of London, with some of the most popular places to live such as Islington, Lambeth, Hackney and Camden seeing falls of more than 50% compared with last year. Experts say a double whammy of landlords pulling out of the market because of tax and regulatory changes, combined with a backlog of young workers returning to live in the capital after the pandemic has created a perfect storm in the rental market. The figures from analysts TWENTYCI shows that 74,766 residential properties were available for letting in London in March, compared with 132,964 in the same month last year, and an average of 100,274 between 2018 and 2020.

London Evening Standard