Prime central London rents have now fallen for fourteen out of the last fifteen months, according to Knight Frank’s latest Residential Review. August saw a 0.4% drop, taking the annual change to -1.7%. Counter-intuitively, the volume of new lets has risen by 18% in the last quarter.
They’re not earth-shattering figures, but the top-end of the market has been more affected by price drops, with £1,500+ per week properties losing 2.8% whilst properties in the £500 to £1,500 bracket fell by only 1.6% in the year to August. Similarly, houses
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