Cluttons says renter demand in central London is massively outstripping the supply of homes available for let, while the sales market is more subdued.
Rental growth in London is outstripping growth outside the capital, according to data showing asking and achieved rents.
Annual rental growth in London slowed slightly but remained in double-digits at 11 per cent compared to a UK excluding London figure of nine per cent.
Rightmove’s index, based on asking rents, recorded even higher annual growth of 16.1 per cent according to their Q3 index report, again ahead of the rest of the country which was on 11 per cent.
James Hyman, head of agency at Cluttons, says: “Lettings demand across central London remains very strong, with corporate tenants returning to the market and adding to this.
“Buy to let landlords have reported the additional costs and regulations of operating in that market are restricting new entrants, putting even more pressure on supply. The sharers market – typically four bed houses at £800 to £1,000 per week – is seeing particularly strong demand.”
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2 bed next door went for £5,500 p w
Yes , PER BLOOMIN WEEK lol !!
Ridiculous
Rental growth 11%, now remind me where's the inflation figure at present, oh that's right 11%, so in real terms rents are standing still, no news here
I'm sure I remember stories in the pandemic about how the rental market in London was dead and would never recover as renters headed for the countryside! As usual, just clickbait!
You should let Richard @Chestertons know. Apparently there are 35% more properties available and rents are coming under pressure as demand drops. ;)
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