New figures from Knight Frank show that there has been an increase in rent prices in London’s prime property market. They have risen by 1.1% in the 12 months to September, which is thought to be down to people choosing the tenant lifestyle over that of a homeowner, amid Brexit uncertainty.

According to this latest prime London lettings report from Knight Frank, there is a higher demand for let properties, than there is supply. This could also be down to the fact that more landlords are looking to leave the market due to the recent hit of tax changes, however the overall outlook for landlords staying in the market appears to be positive.

However, there have been more landlords putting properties up for sale, which has resulted in an overall decline in supply, therefore putting increasing pressure on rent prices.

One recent change that could be influencing the situation is the tenant fees ban, which Knight Frank believes could prompt more landlords to reassess the strength of their portfolios, in order to prepare for a possible increase to administrative charges.

Although the UK faces many uncertainties in relation to political changes, combined with this declining level of supply, Knight Frank has seen 6% more new tenancies agreed in the year to September 2018 than it saw a year ago.

<!--[if gte mso 9]><xml> Normal 0 false false false MicrosoftInternetExplorer4 </xml><![endif]--><!--[if gte mso 9]><xml> </xml><![endif]--><!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;} </style> span style="font-size: 14.0pt; font-family: 'Times New Roman'; color: windowtext; font-weight: normal; font-style: normal; mso-bidi-font-style: italic;">New figures from Knight Frank show that there has been an increase in rent prices in London’s prime property market. They have risen by 1.1% in the 12 months to September, which is thought to be down to people choosing the tenant lifestyle over that of a homeowner, amid Brexit uncertainty.

span style="font-size: 14.0pt;">According to this latest prime London lettings report from Knight Frank, there is a higher demand for let properties, than there is supply. This could also be down to the fact that more landlords are looking to leave the market due to the recent hit of tax changes, however the overall outlook for landlords staying in the market appears to be positive.

span style="font-size: 14.0pt;">However, there have been more landlords putting properties up for sale, which has resulted in an overall decline in supply, therefore putting increasing pressure on rent prices.

a name="_GoBack">One recent change that could be influencing the situation is the tenant fees ban, which Knight Frank believes could prompt more landlords to reassess the strength of their portfolios, in order to prepare for a possible increase to administrative charges.

Although the UK faces many uncertainties in relation to political changes, combined with this declining level of supply, Knight Frank has seen 6% more new tenancies agreed in the year to September 2018 than it saw a year ago.