Napier Watt Logo
Valuation
Menu
Apr 2024

Prime London lettings market showing signs of stability

Prime London lettings market showing signs of stability

There’s been a significant improvement in activity across the prime London lettings market in February according to the latest LonRes data. Annual rental growth increased slightly after four months of
falls. The number of newly agreed lets in February increased by 14.2% compared to a year earlier and was 48.7% below the prepandemic February average. New instructions rose last month by 17.6% on a annual basis but the figure remained 42% below the average 2017-19 February level. Across prime London there were 48.1% more properties on the market to let at the end of February than a year earlier, but that figure is 27.3% lower than at the end of February 2020.

Data on discounts and reductions suggest that more balance is returning to the lettings market. The all-time lows for both discounts and price reductions were recorded in Q3 2022, indicating demand significantly outpacing supply. Average rental growth across prime London rose slightly in February to 3.4% taking values to 26.7% above their 2017-19 pre pandemic average.

Share with friends and family
Recent news articles
Getting ready to move?

Find out how much your property is worth today by booking a valuation with one of our expert team and see where it takes you. You could be pleasantly surprised.

Call us today on +44 (0)20 7935 0011
Book a valuation
Napier Watt are visiting the Middle East this February…
The directors of NapierWatt will be in visiting in Dubai and Abu Dhabi this week until 16th February. Jonathan Adams and Louise Torkmorad are looking forward to catching up with clients both existing and new, banks and lawyers, sharing our intel with investors and stakeholders and speaking at the exclusive event at Manor Hotel, Jebel Ali in Dubai on 6th.
Call us today on +44 (0)20 7935 0011
Read more...
Some kind words from our clients…

“Thank you Jonathan and the whole team at Napier Watt for marketing and executing the sale of Buckingham Mews so brilliantly.”

“Fawne in the property management team was extremely efficient and helpful in resolving a number of issues we had at our property – very professional.”

“Very Professional!!
Great list of properties they have. Really made the moving in process very easy and quick.”

“The team did a great job in finding a reliable buyer for my property within a short space of time. The sale went through smoothly Will be instructing them again on my next property.”

We use cookies on this website. You are free to manage cookie settings via your browser at any time. To learn more about how (and why) we use cookies, please take a look at our Privacy Policy.

Ok, got it!