New analysis by Direct Line for Business (DL4B) shows London landlords collect the largest proportion of private rental income in England at £14 billion per year.
That’s more than the North East, East Midlands, West Midlands, Yorkshire and East Anglia combined.
In total, 44 per cent of the entire country’s rent is paid in London.
Outside the capital, Leeds pays the greatest amount of any city, with annual private rent totalling £565 million, followed by Birmingham (£521 million) and Manchester (£401 million).
Renters in many areas outside the London commuter belt also pay high rental costs – for example Bath and North Somerset, and the Cotswolds, both command annual rental incomes of more than £11,000 per year.
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Top five areas in terms of total private rental costs (per month) |
Most expensive rental areas (per month) |
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| Inner London | £684,346,209 | Inner London | £1,633 |
| Leeds | £47,056,464 | Elmbridge | £1,579 |
| Birmingham | £43,455,760 | South Bucks | £1,530 |
| Manchester | £33,447,750 | Three Rivers | £1,372 |
| Liverpool | £20,474,960 | Sevenoaks | £1,345 |
Outside of London, Bournemouth leads the line in terms of private rentals with 30 per cent of households there privately rented. The isles of Scilly (29.7 per cent) and Brighton and Hove (29.6 per cent) follow in second and third place respectively. Across the country, Inner London has the highest proportion of private renters, at 30.7 per cent.
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Top five areas with rented households |
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| Inner London | 30.7% |
| Bournemouth | 30.0% |
| Isles of Scilly | 29.7% |
| Brighton and Hove | 29.6% |
| Hastings | 28.8% |
Jazz Gakhal of Direct Line for Business says: “Buy to let is becoming an increasingly attractive option for people as property prices continue to soar.
“Landlords and potential landlords looking to take advantage of this should also appreciate the risks involved.”
Gakhal adds: “Taking the necessary precautions such as letting through an agency and taking out landlord insurance can help to alleviate concerns and ease the rental process.”
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