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Burgeoning London boroughs, based on rental values, revealed

Monday 5th August 2013

Rental prices for new and renewed tenancies across London, based on the results from the first ever quarterly updates of data provided by Benham & Reeves Residential Lettings, makes for interesting reading.

The company’s in-house analysis has produced a visualisation in the form of a ‘heat map’ of London postcodes, showing in hues of red and blue where the largest annual climbers and fallers are respectively. It shows the biggest movers over the previous year are not localised to one region of London; rather they are spread out across the city.

The most substantial rises in rental values can be found on all points of the compass, with some of the most dramatic changes in N and SW postcodes. N4, the area around Finsbury Park, tops the league table with a large 17.75% annual increase in prices. SW18 and SE13 are in hot pursuit, having both increased by more than 11% over the previous year. W1 and W2 complete the top 5.

Marc von Grundherr, Director of Benham & Reeves Residential Lettings, explains some of the changes, “SW postcodes North of the river are continuing their strong growth, as areas surrounding the traditionally high value properties in Knightsbridge and Chelsea continue to gain momentum as prestigious, burgeoning neighbourhoods.” 

According to Von Grundherr, it is only in the middle of the compass that a regionalised downward trend can be isolated, and this is in the stagnation or drop in price in the two central regions, EC and WC. This is shown on the heat map as the cream and blue dominated patch in the middle. Additionally, the top fallers are WC1 and E18, closely followed by E1, E1W and N19.

Von Grundherr concludes, “We are planning to release our data on the prices of new and renewed tenancies every quarter from now on, in order to help our customers make as informed a decision as possible on which area of London would suit their requirements best. We are leveraging not just our information, but also the expertise found in our 10 offices located across the prime residential areas of London in this analysis.”

              

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