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Monday, September 07, 2015

Central London rents August slowdown

Knight Frank's  August prime central London rental index saw rental value growth slow to 2.5%.

The agency reported high supply levels were not matched by demand, with a subdued summer market being compounded by low corporate demand caused by uncertainty in the financial sector, leading to fewer corporate relocations.
Rental values rose just 0.1% during August.

The agents reported that increasing numbers of  new tenancies in recent weeks had been taken by  UK-based families re-locating neighbourhoods.

New applications were down 15% for the three months period to July this year, compared to the same period in 2014. Viewing levels also fell, down 12.6%, as did and tenancies agreed, down 12.1%. 

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