The Prime Central London Lettings market has maintained its stability with the number of rentals agreed in April 2018 increasing gradually. Residential properties in Prime Central London command one of the highest rentals and is among the top prestigious real estate hubs of the world.
According to Knight Frank’s Prime London Lettings Index, the number of tenancies agreed at £5,000+/week increased by 24 per cent in the year to April. Similarly, the number of rentals agreed for properties below £1,000/week, the increase was 12 per cent.
In Prime Outer London, the number of tenancies agreed for properties above £1,000/week rose by 28 per cent in the year to April compared to a 19 per cent increase for properties below £1,000. The Knight Frank Prime Central London Index, established in 1976, is the longest running and most comprehensive index covering the Prime Central London residential marketplace.
The last six months have been the most challenging period for landlords in Prime Central London, as the demand for rental properties has been poor. Uncertainty surrounding post-Brexit trading arrangements and the timing of the next interest rate rise have impacted the Prime Central lettings market. Nevertheless, now the market is showing signs of recovery.
Knight Frank's Prime Central and Outer London Rental Indices have tracked the performance of London's prime rental markets since 1995.