The latest FindaProperty.com rental index for October 2009 is here!

From the London market overview:

• The SUPPLY in London rental market has been falling by 18.8% from the August peak and 13.2% in the last month.

• STOCK LEVELS remain 30% higher than a year ago. The stock of flats dropped by almost a fifth (-19.2%) since the peak in August, including 13.8% in the last month. The number of houses on the market, meanwhile, has dropped by 16.8% since the August peak and almost 10% over the last month.

• RENTS increased by 1.6% in October to £1,636 pcm, the second consecutive monthly rise in line with falling stock levels.

• The annual rate of decline in rental values went to -4.6% from -5.7% in September.

• YIELDS have gone up slightly from 4.47% last month to 4.5% in October.

• There are now 4 boroughs showing POSITIVE ANNUAL GROWTH, with rents higher than they were a year ago – in Havering, Kensington & Chelsea, Enfield and Barking & Dagenham. Demand for properties in the most desirable, affluent boroughs is driving the wider London recovery, with the five most expensive boroughs (Kensington & Chelsea, City of Westminster, Camden, Hammersmith & Fulham and Barnet) all recording positive month-on-month growth.

• The boroughs which recorded the LARGEST PRICE FALLS in October are at the mid to lower end of the market (Lambeth, Sutton, Redbridge, Lewisham and Merton).

Download the full report here: FindaProperty.com Rental Index October 2009

This entry was posted on Tuesday, November 3rd, 2009 at 12:23 am and is filed under Statistics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.