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.”