Private rents up more than 10% in Haringey in just one year

The borough’s renters are now seeing faster increases than the average Londoner, reports Taro Kaneko

Rental prices in Haringey have been rising faster than the London average for the last five months, according to new data from the Office for National Statistics (ONS).

The annual change in Haringey rental prices has now hit 10.7%, with average monthly rents having risen nearly £200, from £1,861 in October 2023 to £2,060 in October this year.

This is the fifth month since June that Haringey’s annual change in rental prices has been higher than the average across London.

Waitress Jenny Krane, a mother of two who has lived in Hornsey for over six years, is one of the renters struggling to get by with rising housing costs.

She told HCP: “It is really difficult, now more than ever, to manage my financial situation when everything is getting more expensive.

“We [Haringey residents] were already shocked by the high costs of energy and food over the years.”

Jenny said more needs to be done to address the high cost of rent.

“It is sometimes just too much to handle, I already have a lot to handle with my child and work.

“It can really feel at times meaningless as I do so much but feel like I lose it all to high prices.”

Graph showing changing rental prices in Haringey and London — source: ONS

The annual change in rental prices rose from 7.4% in January to surpass London’s average (9.7%) in June, for the first time since March 2023, before hitting 10.6% in October.

Rental properties with a single bedroom increased the most over the year, by 11.6%, with properties with four or more bedrooms increasing 8.8%.

The ONS’s index on private rent shows that Haringey had the fifth-highest monthly rent rise in London in October, increasing by 1.3% that month.

For the average private renter paying £2,060 a month, that is a £26 increase to their rent in a single month.

Prime Minister Sir Keir Starmer introduced the Renters’ Rights Bill in September as part of Labour’s manifesto commitment to make substantial changes to the rental market by giving renters more secure tenancies and banning ‘no fault’ evictions. However, the bill does not include rent control, something which Mayor of London Sadiq Khan has called for since 2019 and is now set to introduce for some newly-built homes in the capital.

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