Lettings

London's rental prices are likely to rise by 10% next year, thinks Marsh & Parsons, driven by strong tenant demand and a flourishing corporate sector.

It looks like London's super-rich are opting for to wait and see for the next 12 months, as the very top-end of the rentals market - with six and seven figure annual rents - booms.

"Exponential growth" since last year's launch of luxury new-build specialist estate agency Johns & Co has meant the firm has just recruited a batch of new faces, including a key hire from Knight Frank.

High-end estate agency Knight Frank has drawn up a map of prime central and prime outer London, complete with price performance stats for each of its office's sales and rentals departments.

A bit of a split between around the £1,500 pw mark, but no change overall for prime central London's rental values in November, says Knight Frank, leaving the annual change at +4.4%.

CBRE has reported 60% spike in sales in Q3 this year compared to last in Midtown - twixt Mayfair and the City - as buyers look beyond Mayfair and Knightsbridge.

City/Docklands/Midtown-based agency Hurford Salvi Carr has been totting up the price movements across its patch during 2014, and come up with an average increase of 4% on the sales side.

Prime rents nudged upwards in Q3, says Chestertons as the firm forecasts a 3% increase for prime London rents next year. Q3 saw prime rents rise a touch by 0.

House price growth is back to its May 2013 level, says the RICS, as new buyer demand continued to drop in October.

"Politics hasn't completely stymied the market" says Douglas & Gordon, as the agency notches up a 100% increase in new business from August to October.

W.A.Ellis - or if we're being formal, W.A.Ellis, a JLL company - has summed up the current PCL conditions rather eloquently in its latest market update.

The requirement for landlords to undertake immigration checks presents a number of practical points that will have particular relevance to high value resi lettings, says Jane Reyersbach...