Average Brent rent has rise by more than a third since 2023

According to My London Office of National Statistic data shows that Brent has seen the steepest rise in rents over the past 12 months of any local area in England or Wales.

The average rent is now £2,121 per month - a rise of 33.6% since 2023. This compares with a London average rise of 9.6%.

Private rents in Brent soar 33.9% in a year ONS statistics show

Source

Figures released by the Office for National Statistics (ONS) for the period to June 2024 show that since June 2023 there has been a 33.9% increase in private rents in the borough.

 

This compares with a maximum increase of 3.8% (for flats) in houses purchases over the 12 month period.

 The latest statistics confirm the problem that Brent Council faces due to the rise in private sector rents when looking for accommodation for homeless families.

They also challenge the claim that the increase in the number of built to rent homes in the borough, let at market rents, will via market pressures reduce rents overall.

On the basis of house prices there appears to  be an economic case for owers of detached houses to convert their property into flats as we have seen in corner site properties in the Salmon Street area of Kingsbury.