Young professional tenants are moving out of London to rent in commuter towns – despite enormous rail fares.

The claim comes from HSBC, which picked Reading and Brighton as the places where rental yields have jumped most in the last year.

It said average rents in Reading are now £950, and in Brighton £1,248.

Savings in rent, however, are offset by season tickets costing £4,088 from Reading and £3,972 from Brighton.

Other towns and cities proving rental hotspots include Southampton, Cheltenham, Bristol, Bournemouth, Manchester, Oxford and Eastbourne, says HSBC.

The only part of London which makes HSBC’s top ten list for annual returns is Hammersmith and Fulham where the average monthly rent is £2,004.

* As Eye reported yesterday, Boris Johnson launched the new London Rental Standard, which aims to accredit 100,000 agents and landlords within two years:

http://www.london.gov.uk/priorities/housing-land/renting-home/london-rental-standard