Despite all the headlines about prime central London\u2019s house price growth and the\u00a0regeneration of east London, rents have risen fastest in south London over the past\u00a0three months according to Benham & Reeves Residential Lettings\u2019 latest research.\u00a0Rents in Greenwich have increased by an astonishing 27.16% over the last quarter\u00a0while in nearby Bermondsey, Southwark and the South Bank, rents increased by\u00a012.68%, far outpacing almost every other part of London.<\/p>\n
In fact, vast swathes of north London including family favourites Muswell Hill and\u00a0Archway saw no increases at all and the N7 area of Islington actually saw rents fall.\u00a0Perhaps surprisingly, a similar picture emerged in prime central London with\u00a0Westminster the only other area where rents have fallen while in Kensington, rents\u00a0increased by less than one per cent. Only Knightsbridge performed strongly with\u00a0increases of just shy of eight per cent.<\/p>\n
A mixed picture emerged in the trendier bits of east London with Shoreditch showing no\u00a0growth at all. Victoria Park, Bow and Canary Wharf showed only modest increases\u00a0despite a number of sought after developments being built in these areas. London\u00a0Fields, which has historically had a strong rental market, continued to perform well,\u00a0though, with increases of over six per cent.<\/p>\n
Investors in search of up and coming areas would have performed best in the two other\u00a0areas of central London tipped for growth: Bayswater (6.2% rental increases) and the\u00a0King\u2019s Cross area (8.2% rental increases).<\/p>\n
\u201cGreenwich\u2019s growth isn\u2019t a huge surprise to us,\u201d remarks Marc von Grundherr, director\u00a0of Benham & Reeves Residential Lettings, \u201cIt is a beautiful part of London with great\u00a0transport links to the City and Canary Wharf. Until recently, it has mainly been viewed\u00a0as a part of London that is great for families but with a number of new developments\u00a0being built around the Greenwich Peninsula area, younger people are now flocking to
\nthe area.\u201d
\n-ENDS-<\/p>\n","protected":false},"excerpt":{"rendered":"
Despite all the headlines about prime central London\u2019s house price growth and the\u00a0regeneration of east London, rents have risen fastest in south London over the past\u00a0three months according to Benham & Reeves Residential Lettings\u2019 latest research.\u00a0Rents in Greenwich have increased by an astonishing 27.16% over the last quarter\u00a0while in nearby Bermondsey, Southwark and the South … <\/p>\n