Data compiled by Goodlord has revealed which areas of London have seen the biggest drop in EU citizens taking up tenancies since the 2016 Referendum.
West London has seen the biggest shift in demographics, with a 14% decline in EU citizens taking up tenancies in the borough since 2016. During the same period, UK tenants in West London increased by 30%.
North London has seen the smallest changes, with a comparatively modest 4.6% drop in EU tenants making the borough their home. Interestingly, the number of UK residents signing leases also declined in North London, dipping by 1%. This was offset by a 5% rise in international tenants moving to the area.
These findings corroborate a Goodlord analysis of 150,000 UK tenancies earlier this year, which showed a 2 drop in the number of EU nationals renting homes in the UK between 2016 and 2019.
Tom Mundy, COO at Goodlord, commented:
“The EU referendum result has had a clear impact on the letting markets in London and the UK at large. We’ve seen the number of EU nationals signing leases steadily decreasing across the board, meaning UK residents now represent a greater proportion of tenants across the whole of London. This represents a real cause for concern as the talent and spending power of Europeans has looked elsewhere for a place to call home ever since the Brexit result was announced.”
