VIDEO12:2612:26

Why rent in London is out of control right now

Name: Why rent in London is out of control right now
Uploaded: 2023-02-06T08:26:47.000Z
Duration: 12 min 26 s
Description: Rents in London are at an all-time high. In December 2022, the median asking rent for a two-bedroom flat in London was £2,400 ($2,895) compared to £1,900 ($2,292) before the pandemic. CNBC Make It spoke to two Londoners whose rents increased up to 27%.

Rents in London are at an all-time high. In December 2022, the median asking rent for a two-bedroom flat in London was £2,400 ($2,895) compared to £1,900 ($2,292) before the pandemic. CNBC Make It spoke to two Londoners whose rents increased up to 27%.

12:26

Mon, Feb 6 20233:26 AM EST

Sophie Kiderlin

Marisa Forziati

Gene Kim

In a highly competitive market with more demand than supply for rental properties, this has led to sky high prices that are unaffordable for many. Renters can try to negotiate or say no, but then they run another risk: being evicted.