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Trade body demolishes false comparisons in media rental story
Original Author: Graham Norwood
A trade body has hit out at “clear inconsistencies” in an online news report claiming that renting an ‘average London flat’ is actually more expensive than living in most European hotels.
The online Independent – which ceased publication as a print newspaper earlier this year – claimed at the end of last week that the average rent for a flat in London was £1,676 per month.
Now the Residential Landlords’ Association has taken The Independent to task, saying this figure is, in fact, the average rent in London for all properties. “The average rent for a one bedroom apartment in London is £1,271, while the average rent for a studio apartment is £952 and the average rent for a bedroom is £572” says the RLA, quoting Valuation Office Agency figures.
“The average rent for a single bedroom of £572, works out at £19 a night. A significant difference to the £55 a night hotel bill” says the association.
It also says a Paris hotel cited by the online publication – available at £55 a night for a single bedroom – did not take into account seasonal availability or weekend rates.
The RLA says the room at £55 is a single bedroom with no view and no facilities such as a kitchen or washing machine. The hotel bill, covering 30 nights, works out at a total of £1,938 or £2,171 with breakfast included. The equivalent of £72 a night.
“When we look at the costs in July this increases to £2,372 for 30 nights, an average of £79 per night and £2,560 for 30 nights with breakfast (an average of £85 per night). This is a difference of £1,800 between the average rent for a bedroom in London and the cost of 30 nights in a hotel” says the RLA.
“This is a good story not supported by the facts. Renting a room from a landlord would be £1,800 cheaper than a hotel this summer. For the cost of a hotel room you could rent two studios and still have money left for a few nights out. Comparing apples and pears benefits nobody” says Alan Ward, chairman of the RLA.
“What London really needs is action on the buy-to-leave landlords who are letting property lie empty, depriving hard working Londoners of somewhere to live, a move which would see 57,000 empty properties become homes” says Ward.
