HIgh-end residential rental revenues have fallen in the last quarter, says a survey.
The survey of flats and houses for rent was conducted by Gumtree, a website which carries a number of 'accomodation to let' advertisements. It used the information in the adverts to compile the figures.
While rents in London as a whole averaged no change, the detailed local picture was more turbulent, with rises and falls of around 2.5% common. The 'Rental Index' shows the high-end rental market has suffered, with Kensington & Chelsea, Richmond and Westminster all posting rent falls of over 1.5%, with traditionally less well-to-do areas like Bexley, Lewisham and Redbridge all on the rise.
West London shows similar picture to London as a whole, with Ealing (-1.2%), Hounslow (-0.8%) and Hillingdon (-2.6%) all showing falling rents, and Brent (+2.3%), Harrow (+0.7%) and Hammersmith & Fulham (+1.0%) all on the rise.