Editor's note: This brief was summarised by The Property AI Team from a report by Landlord Today. Read the original article for full details.
Prime rents rise as Renters Rights Act hits top-end 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.
According to the report, this signals a return to momentum following a more subdued period in the top-end market.
For letting agents and inventory clerks operating in London's prime and outer prime markets, the figures point to renewed rental growth at the top end, even as the Renters Rights Act continues to reshape the sector.
The source does not provide further detail on how the Act is specifically affecting prime landlords or tenants.
Source: Landlord Today