Lack of properties in London’s poshest postcodes sees rental prices soar
9 May 2022
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There are now 50 per cent fewer rental properties hitting the market than before the pandemic, new figures from LonRes show.
The stock shortages come as demand for rental properties in London’s poshest postcodes has begun to bounce back over the previous year, as renters flock back into the capital’s most expensive areas.
The imbalance has caused rents in prime areas of the capital, around Hyde Park and Hampstead Heath, to increase by 28.3 per cent over the past 12 months, to levels that are now 5.6 per cent higher than at their pre-pandemic peak in 2018.
At the same time, house prices in London’s prime areas are now 6.1 per cent higher than they were at the start of the pandemic, in April 2020.