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.
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.
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.
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