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© Graham Hussey
In the Royal Docks there are twice as many rental properties available than properties for sale. Most renters, like most buyers, are young professionals working in Canary Wharf and rents drop depending on the length of the commute, with those in the Royal Victoria Dock about £50 a week cheaper than in Canary Wharf itself, and a further £25 a week cheaper in Gallions Reach.
Buy-to-let investors expect a rental yield of around five per cent but some investors with short-term loans from Irish banks are selling up when these loans fall due, and many of these flats are now being sold to owner-occupiers rather than investors.
Average prices: renting flats and houses in Custom House
One-bedroom flat: £1,261 a month
Two-bedroom flat: £1,560 a month
Two-bedroom house: £1,440 a month
Three-bedroom flat: £1,551 a month
Four-bedroom flat or house: £1,708 a month