Rent in Prime Central London market down but activity is stronger

STC16HOUSE_312799kRental values in the prime central London lettings market fell over 3.5% in the year to July 2016 but activity is stronger than last summer. According to Knight Frank, values were down due to higher stock levels and a degree of uncertainty surrounding the EU result. There have been higher levels of supply in the market by placing new rental properties which has risen from the last year.

 

According to Tom Bill, head of London residential research at Knight Frank, says: “Demand has been relatively even since the start of the year due to uncertainty, which contributed towards a slowdown in rental value growth from its last peak of 4.2% in May 2015. In first quarter till the end of June this year, the number of new rental properties placed on the market rose by 49% compared to year on year.”

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