Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Prime Rents Rise as Renters Rights Act Hits Market
Prime rents are now 1.9% higher year-on-year in Prime Central London (PCL) and 2.9% higher in outer London, according to Savills. PCL outperformed over the latest quarter, recording its strongest rental growth in two years.
The figures, reported by Letting Agent Today, come as the Renters Rights Act continues to affect the market. The source item does not include further detail on how the legislation is influencing rents, nor any additional commentary from Savills or other parties.
For letting agents and inventory clerks operating in London's prime market, the headline points to renewed rental growth in both central and outer London. The brief does not contain further specifics on stock levels, tenant demand, or the mechanics behind the uplift.
Source: Letting Agent Today