UK Property Market

London rents hit record levels in June

According to the lettings index by Knight Frank’s London, rents saw increases of 4.2 per cent on average from April until June 2007, which is the most significant rise since 1995, when the records were first registered. Similarly, the average rent in London Went up by 12.2 per cent over the last year, the highest inflation since 1995.

Over the last three months, the largest rises in central London Were recorded in Notting Hill and Kensington, with over 6.1 per cent increases. In the same period of time time, in Wapping and Canary Wharf inflation led to 7.6 per cent rises, adding up to the 14 per cent annual increase. In spite of these considerable rental rises, the gross yields for landlords are only little over four per cent.

Share This

• Landlords Charge Higher Rents after Interest Rates Increase
• Home prices rise by 0.4% in June
• Home prices went up by 1.1% in June
• New House Prices Up by 0.7%
• Newly built houses reach record price of £260,832

Comments are closed.