Deposits for properties far less in the PO zone

From left: Nick Tutton of CBRE, Guy Jackson of Lambert Smith Hampton, Tom Hughes of Canmoor Developments, Portsmouth City Council leader Donna Jones and Robin Dickens of Lambert Smith Hampton. Picture: Polymedia

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TENANTS with PO postcodes are paying at least 40 per cent less than renters in London, figures show.

The Deposit Protection Service said renters in the PO-postcode area – which covers Chichester, Bognor Regis, Fareham and the Isle of Wight as well as Portsmouth – are paying an average £875.58 as a deposit to secure a property. This compares with an average of £1,548.67 – 43.46 per cent more – in London, and £895.80 in the Southampton SO postcode area.

Portsmouth’s average is £9.33 – 1.08 per cent – more than the average for England and Wales of £866.25.

DPS managing director Julian Foster said: ‘Tenancy deposits give landlords the security they need while their property is being rented out.

‘Tenants are also provided with peace of mind when The DPS protects the money during their tenancy, as it provides free, impartial adjudication if there is a dispute at the end of the tenancy.

‘Both landlords and tenants need a deposit protection service that is fast, efficient, clear and communicative.’