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Rental gap widening

Alex Johnson

9773ea30eefc7d66175b994815e3c233711417d8 300x225 Rental gap wideningFigures from Move with Us Rental which focuses on Greater London suggest that there is now a £4,411 gap in asking rents across the city. The most expensive borough in November 2013 was Kensington and Chelsea at £5,438 per calendar month, and Bexley the cheapest at £1,027. This represents an increase of £218 compared to the same period last year.

The average asking rent for Greater London has increased 4% over the last year and nearly 3%  in the last three months to reach its current figure of £1,988. Kingston upon Thames appears to have the most stable asking rents at £1,668 changing just 0.11% in a year-on-year comparison.

Robin King, Director of Move with Us, said: “Rents across London have always differed greatly but the gap in the current market is extremely wide. Anyone looking to rent in the capital should do their homework as rents can significantly vary from borough to borough. A tenant’s best option is to look for a borough with reasonable rental prices that are rising slowly, such as Kingston upon Thames and Lewisham, and that are also on a commuter route that suits their individual needs.”

Moving for schools

Around one in three professional parents with children aged 5 to 16 has moved to an area which they thought had good schools, and 18% have moved to live in the catchment area of a specific school, according to a Sutton Trust report. The findings also show that:

* 2% of parents admitted to buying a second home and using that address so that their children could gain access to a specific school

* 3% admitted using a relative’s address for the same reason

* 6% admitted attending church services when they didn’t previously so their child could go to a church school

Professor Becky Francis, one of the report’s authors, said: “Our research shows just how far equality of opportunity is being undermined by the greater purchasing power of some parents. The ability for some parents but not others to use financial resources to secure their children’s achievement poses real impediments for social mobility, which need to be recognised and addressed as detrimental to society.”

Pictured is a two bedroom flat for sale in Halesworth Road, Lewisham, London, on with Acord for offers over £220,000

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