Average rental deposit nears £1,000 – but London tops £1,800

The average tenancy deposit for England and Wales is just below £1,000 – but London’s typical deposit is now at its highest-ever level.

Tenancy deposit firm DPS says the average deposit paid between October and December 2016 across the UK was £970.18p.

This figure represents a £154.40p increase on July to September, it is just 30p lower than April to June 2016, with the third quarter typically experiencing a dip as students return to rented accommodation ahead of the new academic year.

However, between October and December properties with London postcodes set a new all-time peak during the same period, averaging £1,831.14p.

Sunderland had the lowest average deposit, with the figure for properties with its ‘SR’ postcode averaging less than three times lower (£490.13p) than London.


Written by: Houseladder