The DPS holds over 580,000 deposits worth over £440 million, and publish data on the deposits that they hold. Deposits tend to be 1 month rent, and so the DPS statistics give a picture of what rental prices are doing. Whilst the absolute values can only be approximated to the rent, relative values (e.g. comparisons between areas, or at different times) will be much more accurate than any other rental statistics currently published, and give a clear picture of rent movements.
The latest figures tell us that Pimlico (part of Westminster) is the most expensive area to rent in the country, being five times more expensive than the cheapest area – Kingston upon Hull, and 25% more expensive than it’s more famous neighbours Kensington, Chelsea, and Islington. As a great relief to our tenants, Pimlico Flats’ rents average £840 which is less than half the average for our area.
Further the figures tell us that during the period Dec 2008 to June 2008 rents in Pimlico fell 1% and that during the period Dec 2008 to May 21st 2009 rents in London as a whole didn’t change (no increase or decrease).
The data used in this analysis was published at:
DPS
Westminster £1,890 £1,909
City of London £1,808 £1,815
Islington £1,542 £1,535
Kensington and Chelsea £1,478 £1,463
Tower Hamlets £1,466 £1,478
Kingston upon Hull £381 £381
Lancaster £385 £358
Blaenau Gwent £390 £387
Wear Valley £397 £385
Middlesbrough £397 £397
