London landlords with unrealistic rents

I read in the FT at the weekend that some London landlords are being greedy in the rents they are demanding.

Although rents have been rising fast, agents said some of the prices landlords expected were too ambitious.

Savills have stopped accepting new rental stock at its Canary Wharf office and said it was being "very choosy" about what it took on in other areas. Meanwhile, Knight Frank said up to 40% of it's rental properties across central London were over-priced by 5-10% as landlords sought unrealistic rents.

Year-on-year central London rental growth stood at 6.2% at the end of the second quarter. In some areas of London and the south, estate agents have seen annual rent increases of up to 15%. Agents at the Winkworth chain said rents in some areas of London and the south-east had increased by 10% in just 10 months.

Agents believed rents might be close to their peak in some prime markets.