Large Increases In London’s Residential Rental Market

A report issued by Jones Lang LaSalle (JLL) research has found that rents in the London area have risen by as much as 6.1% over the last six months, increasing from £37.87/sq ft to £40.20/sq ft.

This report, published yesterday, used JLL’s London Residential Heat Maps to display the increase in growth that started in West London, particular development in rental profit shown in Paddington, Chiswick and West Hampstead.

Comparatively, asking prices have increased just 2.2%, from £718/sq ft to £734/sq ft.
The head of residential development and investment at Jones Lang LaSalle, James Thomas, stated that “Over the past six months the London residential market has witnessed rental growth escalating faster than capital growth. The market continues to be undersupplied with quality rental stock for the young professional market, while access to the debt market for first time buyers remains limited preventing many would be purchasers getting onto the property ladder.

“Paddington, West Hampstead and Chiswick all benefit from excellent transport links and are well buffered from void periods so will offer encouraging returns for buy-to-let investors looking for increasing income streams.”

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