Prime central London rents rose in January - but only by a tiny 0.2 per cent.
However it was the first such rise since April 2012 and the highest monthly increase since September 2011, says Knight Frank.
Even so, PCL rents fell 2.0 per cent over the year; this is all the more surprising because Knight Frank claims the actual number of properties let in PCL rose by a significant 19 per cent. This was thanks to executives from the banking, insurance, shipping and mining sectors seeking temporary accommodation and an increase in activity from relocation agents.
“While there are some generous relocation packages for the most senior people, the purse strings are still tighter than they were before the crash for most staff. This has caused many to seek better value beyond traditional markets like Mayfair and Chelsea and instead look in areas like Marylebone and Hyde Park” explains Knight Frank researcher Tom Bill.
.jpg)
Comments