Average rents across Barnet rose by 4.2% last month while other London boroughs enjoyed decreases of nearly 6%

Barnet’s average rental price is continuing to rise at a significant rate despite dips seen elsewhere in London.

While the rental market across London is now seeing an improvement, with a 1.6% fall in June according to the HomeLet Rental Index, Barnet remains one of a small handful of boroughs still seeing prices go up.

The borough saw a rise of 4.2% last month, the highest in London. It means the average monthly rental price in Barnet has now topped £2,102.

The next highest increase recorded by a London borough in June was in Brent (2.7%), while neighbouring Enfield also saw a rise of 2%.

But many boroughs are now seeing prices fall, including Wandsworth (-5.9%), Hammersmith and Fulham and Kensington and Chelsea (-4.3%), Westminster (-3.9%), Tower Hamlets (-3.1%), and Bexley, Greenwich and Lambeth (-2.7%).

The annual growth rate in London, of 1.3%, is at its lowest in three years.

HomeLet claims to provide the “most comprehensive and up-to-date data on rental values in the UK”. Reacting to the latest rental market figures, boss Andy Halstead says: “The data and analysis speak for itself. All stakeholders in the private rental sector are managing their way through turmoil, not least landlords and tenants.

“Professional letting agents have the most difficult task, balancing the needs of both, whilst working in a political void, with uncertainty everywhere.

“It is rarely quoted that a tenant can now quite easily occupy a rental property for twelve months or so, without paying a penny in rent. Whilst this is a fact, politicians run away from dealing with the challenge.

“A viable private rental sector requires support for all stakeholders, including agents and landlords, this still looks like a pipe dream. Rent guarantee and legal protection have never been more important.”

The HomeLet Rental Index uses data on actual achieved rental values for just-agreed tenancies arranged in the most recent period. A full breakdown of rent increases, variances and rent-to-income ratios can be found on the HomeLet website.

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