Living
‘It’s Degrading’: Londoners Fight for Flats in Hot Rental Market
Landlords ask for cover letters, six months’ rent up front as demand outstrips supply.
Ana Oppenheim requested to view over a hundred properties in London.
Photographer: Hollie Adams/BloombergThis article is for subscribers only.
Finding a rental property in London can feel like an impossible quest, with prices surging as demand vastly outpaces the number of available units.
People are returning to the city for in-person work and school, while the recent jump in mortgage rates has made things worse by keeping potential homebuyers in the rental market. As a result, the number of prospective tenants has more than tripled from early 2021 levels, according to data from real estate site SpareRoom.