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Annual rental growth in prime London reached 11.1 per cent in the first quarter of this year, following a 3.4 increase in the first three months of 2022, according to Savills.
This is the first time the prime London rental market has seen double-digit annual rental growth in over a decade.
As a result, rental prices are now above where they were pre-pandemic for both houses and flats with South West London the top-performing London location boasting rents for all property types now 10.3 per cent above the pre-pandemic base.