City centre landlords have seen rents surge by more than 10pc as tenants rush from their lockdown boltholes back into flat shares.
Rents in several city centres are now above the pre-pandemic level, according to property website Rightmove, as competition for flats doubled over the past 12 months.
Homes have been snapped up at the quickest rate ever recorded. It took on average just 17 days to let a property, according to Rightmove.
So-called “boomerang tenants”, who left urban flats to move back in with their parents or live in cheaper areas, but have rushed back since restrictions were lifted, have driven a wholesale reversal of the lockdown trend.