Why is the Central London rentals market booming?

31st January 2023

by Adam Sheikh

The rental market in Central London has been incredibly busy for the past few months, with people from all walks of life looking for somewhere to rent in the area. But what is it that’s making the market so popular? Let’s take a look.

Convenient Location

One of the biggest advantages of the Central London rental market is its convenient location. With excellent transport links and easy access to all the city’s major attractions, it’s no surprise that the area is so popular. Not to mention, the area is also home to a range of iconic landmarks, making it an attractive option for tourists and travelers.

Job Opportunities

Central London is also a great option for those looking for employment opportunities. With a wide range of businesses, banks, and other employers based in the area, there’s no shortage of work. This makes it perfect for professionals looking for a change of career, as well as students and recent graduates.

High Demand

Finally, the area has a high demand, with plenty of people looking for somewhere to rent. This is due to its excellent transport links, convenient location, and access to local amenities, making it an attractive option for renters.

Statistics

Recent statistics from the Office for National Statistics (ONS) have revealed that the Central London rental market is booming. The ONS report found that the average rental price in Central London has increased by 8.9% over the past year, compared to 4.5% in the rest of the country. In addition, the report also found that the average rental yield in Central London is at 4.7%, compared to 3.3% in the rest of the country.

Overall, it’s easy to see why the Central London rental market is so busy right now. With its convenient location, competitive prices, and abundance of job opportunities, it’s no surprise that the area is one of the most sought-after locations in the UK.