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Graham Awards


Prime London landlords rejoice - rent rises highest for over a decade

Annual rental growth in prime London reached 11.1 per cent in the first quarter of this year, following a 3.4 increase in the first three months of 2022, according to Savills. 

This is the first time the prime London rental market has seen double-digit annual rental growth in over a decade.

As a result, rental prices are now above where they were pre-pandemic for both houses and flats with South West London the top-performing London location boasting rents for all property types now 10.3 per cent above the pre-pandemic base.


The supply drought remains the key issue with 64 per cent of Savills agents saying stock levels had fallen in the past three months.

As a result the agency estimates that a third of deals have resulted in competitive bidding over the last quarter.

Frances Clacy, research analyst at Savills, comments: “The return of office workers, international students and corporate relocation has seen demand for rental properties rocket over the past few months. Coupled with some landlords selling up in the face of regulatory changes and an improving sales market, the lack of stock is stark, pushing up competition and prices across the board.

“Not only does this mean prospective tenants have to look across multiple locations to secure a property, in many cases, rental properties are being let even before they are advertised. While 43 per cent of Savills offices expect stock levels to increase in the next three months, 39 per cent don’t expect to see any changes.

"‘Landlords certainly still have the upper hand, and we are unlikely to see the pendulum swing in favour of tenants in the short term.”

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    "‘Landlords certainly still have the upper hand, and we are unlikely to see the pendulum swing in favour of tenants in the short term.” how wonderful.

    Landlords raise their rents to exorbitant prices and then claim they are providing a service to tenants. The honourable service of asking eye-watering rents, some of them even asking for an increase of £1600 a month!

    The PRS is rotten to its core. The govt need to build more council and social housings. Or Private landlords will continue to feast on their tenants' salaries!


    Odear Jen, chip on shoulder?

    Richard LeFrak

    Think you need a cold Bath Jen, you try and service a mortgage when tenants wreck your gaff or the government takes your business finance cost off you with tax.

    Let me guess another tree hugging liberal…. Another slow March in the morning or are you running around with Piers Corbyn and Jezza ?

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    Perhaps you shouldn't have based your income on overcharging people for their basic human rights Peter. It's a bit sick and twisted isn't it, if you think about it.


    Not as sick and twisted as you and your comments. Get a job, buy a property and get a life.


    Basic human rights don't come for free, why should they ?

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    James I am aggrieved for basing my Rental income so much below the Market for years and this is a nice thank you its great to know how much we are despised rather than appreciated.

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    Savills' cheapest rent is for a studio at almost £1150 pcm. Not suitable for UC tenants at that price.

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    They are not factoring in how much increased Rents the Government and Council’s are demanding from Tenants.
    Licensing Scheme’s, double SDLT, Section 24 and this is the tip of the iceberg.
    I have as others have also said have a house vacant for months, no because I wanted to its because of adverse
    Regulations. Waiting for a License even though it has been licensed before 3 times since
    2007 so this is a renewal.
    The Re-license Application fee cost £1150.00, C/tax on empty £860 00, Remedial work £1200’00. What should be unnecessary, Certification’s £1150. 00 to include fire risk assessment, loss of Rent on a fully Compliant house £8’500.00 = £12860.00, where do I factor in my work and time, is it all supposed to be free, what about the Property where did that come from or was it a miracle that fell the Heavens in my lap for free, They are really turning the knife. you are all so smart buy your own pay your Mortgage and eat jam sandwiches for 30 years. Have a nice day.


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