Prime property rents down in London

sturdy rise in price for livingResidential rents across the prime property market in London rose by just 1.3% on average in 2015, while those in the commuter zone increased slightly by 0.6%, new data shows. In London this reveals relatively high levels of supply coming into the market, not only from buyers of new build stock but also from the comeback of landlords who reflect a more heavily taxed and generally less active sales market, according to a report from real estate firm Savills. While rents for one bedroom homes rose by 3% in the year, those for four bedroom houses barely increased at all rising by just 0.1% on average. For people holding the investment property from 2015 to 2020, Savills forecasts that there will be increase in house prices of 21.5% in prime central London and 18.2% in other prime London locations.

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