Primelocation.com Prime Index: March 2009 published

| Wednesday, 25 March 2009

The London Lettings Market Summary: "Tenants are still in control"

• In the Prime London lettings market prices fell for the eleventh successive month and were 13.72% lower than this time last year

• Excess supply remains the defining feature of the market – in February stock levels were up 97% year-on-year.

• All the five prime London regions saw rents fall as a consequence, with Central London (-2.42%), North West London (-2.35%) and Islington, City & Docklands (-2.30%) recording the largest declines

Andrew Smith comments: "The dynamic of over-supply of stock coupled with falling rents continues in the prime rental market and is now a firmly entrenched trend.

"Tenants continue to benefit from lower rents and landlords remain under pressure. However, on the positive side, many well established investors will benefit from the lower interest rates and this is enabling them to absorb the impact of lower yields."

http://media.primelocation.com/content/prime-index/prime-index-200903.pdf 

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