London rental platform, Rentd, has revealed that while the average London tenant will pay £1,574 per month, the average cost of residing at the very top of the capital’s rental market comes in at a huge £23,839 – a 1415% rental price premium.
Rentd looked at the average cost of renting in each London borough before comparing this to the most expensive rental listing currently available on the market to reveal the gap between what the average tenant pays and the very top end of the market.
The research shows there are no less than eight boroughs where the most expensive rental property currently available on the market carries a rental price premium of over 1000% when compared to the cost paid by the average tenant.
The city’s largest difference is found in Westminster where the average monthly rent is £2,528.
At the very top of the current market, however, is a 7-bedroom, 7-bathroom, detached house with a swimming pool, spa, sauna, and gym. Rent costs £173,333 pcm; £170,805, or 6757% above the borough average.
In Barnet, the average rent is £1,448 but at the top of today’s market is an 8-bedroom, 9-bathroom home with a car lift, an ice fountain, and a cinema room, which comes at the price of £78,000 pcm; £76,552 (5287%) above what the average Barnet tenant will pay.
In Camden, the average cost of renting currently sits at £1,936, but tenants could also opt for a 9-bed mansion complete with heated outdoor swimming pool, gym, and bar, for the princely sum of £86,667 pcm; £84,731 (4377%) above average.
