Rental price declines in PCL less marked in lower

Posted on JUN 17th 2017 BY Marc Da Silva
Rental price declines in PCL less marked in lower and higher price brackets

The rental market in prime central London is showing signs that it is potentially on the road to recovery, as reflected by the latest figures from Knight Frank which reveal that the pace of falling rental values in the area has slowed.

Average rents in prime central London dropped by 0.3% in May and is down by 4.8% compared to a year ago, which is an improvement on the 5.2% decline at the end of 2016, owed in part to the fact that new supply of rental stock coming to the market is slowing.

The improvement in the market at the lowest end of the market is owed to continued strong demand from young professionals, while at the high end of the market, above £2,000 per week, rental declines have slowed due to uncertainty surrounding the sales market in prime central London, which has pushed up demand for rental accommodation.

There was a 13% rise in the number of new tenants registering with Knight Frank between January and May when compared with the same period last year, while the volume of agreed tenancies have risen by 26% and viewings by 24% during the same period.

Meanwhile, there was a 6% fall in the number of new rental properties coming to market in prime central London during the first five months of the year when compared to the corresponding period last year.

“Relatively high stock levels have been a feature of the market since early 2015, as increased sales taxes and short term uncertainty over pricing in the sales market prompted many would-be vendors to become landlords,” said Tom Bill, head of London residential research at Knight Frank.

Category: News

POSTED BY  Marc Da Silva

< back to articles


Would you like to save the search?
Please choose Yes if you would like to receive email alerts when properties matching your search criteria become available on our website.
Ancona Road, Willesden Junction, NW10
£1,850 Per Calendar Month
3 bedrooms, 1 bathroom
Recently undergone full refurbishment... great mix of traditional & contemporary styles blended to create this three bedroom apartment, on the first floor of this well maintained mid terraced house, boasting direct access to private rear garden, benefiting from solid wood flooring, sash windows, and located in close proximity of local amenities.The property offers 809sq" of living accommodation with period features which include cast iron fire-places, comprising of a stairs down to garden from a sizable reception room, hardwood worktops in open plan Lacquered kitchen, choice of shower cubical & bath in modern fully tiled bathroom and gas central heating throughout.Leafy residential side road, close to a variety of local amenities including Roundwood Park and a multitude of shops, in walking distance of both Kensal Green & Willesden Junction over/underground stations and alternative transport links.Available 2nd September 2015
Palermo Road, London, NW10
£1,350 Per Calendar Month
2 bedrooms, 1 bathroom
A spacious two double bedroom apartment on the first floor of this period style mid-terraced property which is just about to undergo full redecoration throughout, boasting from 17ft reception room into bay, kitchen and bathroom combined w.c; additional benefits include gas central heating and timber style flooring. Palermo Road is located within walking distance of Willesden Junction Over & underground station, variety of local shops, bars/cafes, restaurants and numerous alternative transport facilities.Available now
Brook Road (off), Neasden, NW2
1 bedroom, 1 bathroom
Great first time buy... bright & well proportioned one double bedroom apartment, offered in good decorative order, set on the second (top) floor of this small modern private block, surrounded by communal lawns with patio walk ways, entered via entry-phone access, with the added benefit of off street parking, and in close proximity to a variety of local amenities. The property boasts timber style flooring, comprising of double bedroom, reception room, fitted stainless steel appliances in Oak coloured kitchen, modern fitted bathroom combined W.C. and double-glazed windows throughout.Located off Brook Road, within easy reach of train/bus stations, a variety of local shops, which include Tesco's superstore, Ikea, and numerous alternative transport links.
Beaufort Park, Hampstead Garden Suburb, NW11
4 bedrooms, 1 bathroom
Newly refurbished to a high standard... generously well distributed three potentially four bedroom apartment, with private balcony, on the second & third floor of this small low rise development which also is presently undergoing refurbishment internally within the communal parts, most conveniently located, in easy reach of variety of local shops and transport links.The property offers 1135sq" of living/entertaining space over two floors, comprising of door leading to balcony from entrance hall, sizable 19" reception room into bay window, dining room/bedroom, separate contemporary style kitchen finished with Marble worktops, Ceramic tiled walls in extravagant bathroom combined W.C and separate guest W.C.
Greyhound Road, Kensal Green, NW10
3 bedrooms, 1 bathroom
UNDER OFFER WITHIN 24HOURS Oozing with potential... bright & spacious three double bedroom mid terraced period style house, which has the option to extended to the side & loft, (subject to the usual consents), with private rear garden, located in close proximity of local amenities.The property offers 1107sq" of living accommodation, high ceilings too both reception rooms, modern fitted eat in kitchen with door leading out to garden, bathroom combined W.C, guest W.C. on the ground floor and gas central heating throughout.Greyhound Road is a quiet residential one-way side Road, most conveniently situated. A stones throw of Kensal Green (Bakerloo Line) tube, Ladbroke Grove/ Portobello Market offering a variety of shops, bars/restaurants, Sainsbury's super store, and numerous alternative transport links.
Valliere Road, College Park, NW10
2 bedrooms, 1 bathroom
Architect-designed, high-tech garden apartment... which has just undergone full refurbishment, completed to a high standard with chrome fixtures & fittings, on the ground floor of this period style mid-terraced house, boasting solid wood floors and new double glazed windows throughout, located in close proximity of both Kensal Green & Willesden Junction train stations.The property offers 674sq" of accommodation, two double bedrooms, full length glass panels leading out to the garden from reception room, mix of Oak & Lacquered contemporary style units in the kitchen area with compound worktops and fitted stainless steel appliances, new modern Sandstone style fully tiled family bathroom combined W.C. Located in the sought after College Park, stones throw of a variety of local shops, bars/cafes, restaurants, and both Kensal Green/Willesden Junction train stations are close at hand.


I trust Warwick's with my portfolio
by R. Gensty (Landlord) 18/06/2017
In these hard times, success
by C. Bode (Vendor) 23/05/2017
Good persistence & dedication
by G. Rubinstein (Landlord) 06/05/2017


* Required


Independent inventories should be compulsory, says
We use a separate company to do our inventories for our Client's as we feel it is important to be independent. Read More
Cookie Policy

The cookie settings on this website are set to allow all cookies to give you the very best experience. If you continue past this page without changing these settings, you consent to this. You can change your cookies settings at any time in your browser.

More Information     OK