Rents across the wider London commuter belt continued to rise in the first three months of the year, according to a new report from Savills.
Commuter belt rents – up to an hour from London – rose by 2.5 per cent in the first three months of 2021 and by 5.4 per cent on an annual basis, as demand continued to outweigh supply in the prime markets, driven by a desire for more space.
The picture is more mixed in London itself according to the agency: while prime house values ticked up by 0.4 per cent those of flats fell by 1.7 per cent over the quarter, meaning they now sit 8.6 per cent over the past year.
This reflects the influx of short let stock to the market as a result of lockdown, plus the reduction of sharer, student and international tenants over the past year.
This post has originally been featured in Letting Agent Today.