Prime London rents falling

18th October 2013

According to Savills a falling off of financial sector employees' budgets is holding down rental growth in London's prime lettings markets.

Savills said that the trend of lacklustre rental growth has continued since mid-2011, as its figures revealed that average rents across prime London fell by 0.5% in the quarter to the end of September, leaving values down 0.9% year-on-year. St John's Wood and Hampstead have seen the biggest falls with rents dropping by 3.3% in the past three months and 7.6% year-on-year.

Financial Times