London rental market set to remain strong

1st November 2013

The rental market in London and the south east is set to remain strong for the foreseeable future.

Although recent estimates have seen a 0.5% reduction in prime London property rents, in the prime markets to the east of the City rents are actually 4.1% higher than in 2007. By way of contrast, prime rents in the centre of the capital are still down 4.5% on their peak that year. In Wapping and Canary Wharf, rents have grown by 1.7% in the past three months alone. It is thought that they will grow faster than house prices, at around 5% annually and with even larger increases to come in the next few years.

IPIN Global