0:02 AM, 21st January 2025, About A year ago
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London’s rental market continued to surge in 2024, with research revealing a city-wide average monthly increase of 4.3%.
The data from Benham and Reeves points to Shoreditch leading the charge across its London offices.
It saw the most significant growth, with rents climbing by 6.6% per month.
Canary Wharf and Ealing followed closely with 5.9% monthly growth each.
Kew (5.8%) and Hampstead (5.7%) rounded out the top five.
Director of Benham and Reeves, Marc von Grundherr, said: “Whilst 2024 may have been an uncertain year for the London housing market, the capital’s rental market continued to experience huge demand from tenants, and we’ve seen the rents achieved across all of our offices trend upwards over the course of last year.
“Much of this has been due to domestic demand but foreign interest continues to play a significant role.”
He added: “Not only are we seeing a high demand from international students, but also a great deal of families looking to relocate to the UK, utilising the rental market to try before they buy in their neighbourhoods of choice.”
Other notable performers included Knightsbridge (5.5%), Hyde Park (4.7%), Kensington (4.6%), Surrey Quays (4.4%) and Hammersmith (4.1%).
While White City experienced the slowest growth at 2.2% per month, it still saw a respectable increase.
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