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London Property Market 28 August 2014

London Prime Residential Lettings Report -Summer 2014

New applicants registered rose by 9.2% in H1 2014

Nick Barnes, Head of Research

Report Trends

  • Further signs of improvement in the prime London lettings market with agreed deals, new applicants and new instructions all up in Q2
  • Prime rents experienced a marginal rise of 0.5% in Q2 Prime yields broadly stable at 3.0% at quarter end
  • Forecast prime London rental growth for 2014 increased to 2.5%

With the economic recovery gathering momentum and simultaneously boosting the employment market, households are feeling more confident about property commitments. Recent survey evidence suggests that the majority of tenants would choose to own their property rather than rent, however with real incomes barely keeping pace with inflation and annual house prices in London rising by double digit percentages affordability is likely to make this an unobtainable dream for many.