8 Jul

Prime property to rent in London sees 10% rent rise

Prime property to rent in London sees 10% rent rise

Landlords with houses to rent in London may have enjoyed considerable yields in the past year, research from Savills suggests.

Rents for prime London properties have risen by ten per cent over in the past year, the property firm has revealed.

In addition, rates for prime property to rent in London are now four per cent higher than their 2007 peak.

The price rises are due to increased demand from tenants based in the City, with the cost of rental homes in Hampstead and Islington now 15 per cent above their peak.

In addition, international demand has resulted in a five per cent rent rise in the quarter for St John's Wood and Regents Park properties.

Flats to rent in London were also found to be slightly more profitable than houses.

Yolande Barnes, head of Savills Residential Research, claims a number of different factors are pushing up rents in the centre of the capital.

She explained: "A boost in demand from international and corporate tenants is driving values in central locations, but rental growth is underpinned by strong and growing demand from would be buyers unable to access home ownership."ADNFCR-1222-ID-800615507-ADNFCR

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