Lettings

High-end specialists from Savills summarise the key drivers shaping the PCL lettings & sales markets this year.

Deal numbers remain low in prime London, but the number of new listings has improved dramatically in September so far.

Rents remain high as Foxtons reports a seasonal flurry of new rental applicants.

"We would suggest landlords think twice before offloading," says estate agency boss, as rising rents "more than offset" increased costs...

Catch up on all the latest movements and commentary in less than five minutes, featuring data and analysis from Hamptons, LonRes, Knight Frank, CBRE, Acadata & more...

'Each passing month has ushered in a new rental market record,' says Aneisha Beveridge, Head of Research at Hamptons, adding:

Last month's increase has pushed rents to nearly 30% above their 2017-19 (pre-pandemic) average, reports LonRes.

“Inquiry levels are strong but not as high as we’ve seen over the last two summers,” said David Mumby, head of prime central London lettings at Knight Frank. “As

UK housing market activity metrics 'remain in deeply negative territory,' says the RICS, as property prices fall further.

'The rented sector is stuck in a seemingly endless cycle of low supply and strong demand,' says Zoopla, which 'has kept rental growth in double digits for 18 months in a row.'

The latest LonRes data tells of a traditional September flurry of new sales and rental listings in prime London - but the property market still feels sluggish compared to previous years.

"We think that 2025 will mark the beginning of a new property market cycle, with London leading the way, outperforming all other regions for the first time since 2015," says Hamptons' Head of Research