Renters flock to east London in search of value, latest figures reveal

Renters are flocking to east London in search of lower rents, according to one of the capital’s leading estate agent firms.

The number of people looking to rent in Wapping, Limehouse and the Isle of Dogs increased by 41 per cent between the last quarter of 2012 and the first quarter of 2013.

Estate agents Cluttons put the rise down to tenants spreading their wings to try to track down value for money.

Sue Foxley, from the company, said: “Supply is now creeping ahead of demand in prime Central London and this is driving tenants to seek out rent reductions at renewal.”

You may also want to watch:

Become a Supporter

This newspaper has been a central part of community life for many years. Our industry faces testing times, which is why we're asking for your support. Every contribution will help us continue to produce local journalism that makes a measurable difference to our community.

Become a Supporter