According to Winkworth’s Property Price Guides, London sales started to improve in 2009, meaning that lettings appear to be stabilising.

London rents fell dramatically after April 2008 with rents for houses falling by -17.03% between April 2008 and September 2008 and flats by -10.84% during the same period. Despite rents continuing to fall between October 2008 and June 2009, the decrease is less defined than the previous fall. In some areas, such as Harringay, Edgware and Clerkenwell, rents for some properties have increased. Winkworth believe that houses have experienced a more marked decrease in price fall compared to flats, thanks to falling supply levels.

According to Winkworth, rental stock levels (flats and houses) have decreased by almost -10% since January 2009. As supply levels fall, demand for rental properties rises, and therefore rents are starting to stabilise and the agency believes the bottom of the rentals market in London could well be in sight.