It is the revenge of generation rent. After years of being squeezed by landlords, some London renters are having the last laugh — one bright spot in the pandemic gloom — as previously unaffordable neighbourhoods in the capital are now within their grasp.
It is all the more satisfying after years of being told that, no, the surfeit of Airbnbs in London did not reduce housing supply and push up rents for locals. But since the pandemic killed off tourism, an estimated one in eight flats on the market in inner London in 2020 was a former Airbnb or short-let property. The average achieved rent in prime London fell 13 per cent from January 2020 to January 2021, while the number of properties available to
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