Prime London rental growth hits 5% as supply slumps

Annual change of 1.1% was recorded in PCL in September, the first time the figure has been below 2% since mid-2021.

Almost all tenancies agreed in the last month above £1,000 pw have been below the asking rent or subject to a rent reduction, reports Knight Frank.

Values are still 28.3% above their pre-pandemic average, reports LonRes.