Tom Bill: Seasonality is returning to the Prime London lettings market

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Rental values are retreating as supply builds, reports Knight Frank's UK resi research boss.

Written by

Tom Bill

Head of UK Residential Research at Knight Frank

Tom Bill is Head of UK Residential Research, producing reports that include Knight Frank’s flagship Prime Central London indices, the Super Prime London Insight and the London Residential Review. He has written detailed reports on London sub-markets and contributes to The Wealth Report and Global Cities report. Tom, a former Bloomberg and Reuters property journalist, is a regular media contributor on the London property market and has presented at events in Europe and the Middle East.

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'2023 was the year the convulsions caused by the pandemic in the prime London lettings market began to dissipate,' says Knight Frank's residential research chief, as he looks back at the past 12 months…
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'The story of low supply in the prime London lettings market appears to be coming to an end,' says Knight Frank's research head.
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“We are starting to see a noticeable shift in stock from the sales markets to the lettings market as owners are not able to sell for the asking price,” says Knight Frank.