With the London rental market so fast-moving, we’re introducing a new, quarterly map revealing the latest figures on rental prices for new and renewed tenancies across London. The map is based on statistics sourced from our 10 London letting offices and for the second quarter of 2013 shows that the biggest movers are not always confined to specific areas of London but are spread widely across the capital.
Sussex Way Nearby amenities in N4, flats to rent in Sussex Way from £300 per weekWoodberry Park Great value flats to rent at Woodberry Park N4 from £280 per week
Our in-house analysis reveals that large rises in rental prices are London-wide, with the most significant increases in the N and SW postcodes. N4, the area around Finsbury Park, is firmly at the top of the league table so far this year, with a 17.75% increase, and is showing no signs of slowing down. Hot on its heels are SW18 and SE13 where rental prices have both increased by over 11% over 2012. Also in the top 5 are the W1 and W2 postcodes.
So why such substantial increases in these areas? The SW postcodes which are north of the river are continuing their strong growth. We’re finding particularly that areas with traditionally high value properties such as Knightsbridge and Chelsea are continuing to show strong performance as well-heeled renters opt for homes in these prestigious central London neighbourhoods.
Accurate statistics from our 10 London letting offices
We will be releasing data on rental prices for new and renewed tenancies quarterly from now on. This will help our applicants make informed decisions on where to rent, not just in terms of local amenities and transport links which are always key deciders, but also on price, which will help them to find the right property, within their budget. We’ll be basing this update on statistics from our 10 London letting offices, which cover London’s prime residential areas, from Ealing and Imperial Wharf in West London, to Hampstead, Highgate and Beaufort Park in North London, the City and Canary Wharf in East London, and Kensington, Knightsbridge and Hyde Park in central London.
For a more in depth view of the postcode data please contact us.
Marc has been a director at Benham and Reeves since 2001 and works closely with Managing Director Anita Mehra in the growth of the company in all areas from investments to sales to rentals and tax.
You may have seen Marc within the UK and international media on a regular basis where he is now the property expert of choice for multiple news organisations including the BBC, Bloomberg, Reuters, The Times, Telegraph, Financial Times, News UK and more. His analysis in always well-informed and topical and delivered with a professionalism and passion that news producers seem to like. He is never short of an opinion on the property market.
Marc is also an experienced panellist and webinar host especially when curating subjects such as property investing and the economics of housing domestically and overseas. He leverages his long-term investor contact-book well and is always happy to provide advice and insight to would be property speculators.