According to Hamptons' Lesley Cairns, the effect of extortionate London house prices on would-be first-time buyers has seeped so far through into rents that Londoners are now in danger of being priced out of the rental market too:

"For example, a recent applicant initially seeking a property in South Kensington for £550 per week has ended up taking a property for £1,000 per week - almost double their original budget."

[via Hot Property]

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