Asking prices in prime London lettings market fell for the 11th successive month and were 13.72% lower than this time last year, reports property portal Primelocation.com.

• Annualised price changes continue to fall and are now at their lowest since January 2005, with weekly rents 13.72% lower than this time last year.

• Weekly rental values have dropped for the eleventh successive month since March and are now 2.15% lower than January 2009. Landlords must continue to offer reduced rates in order to entice prospective tenants.

• For the second successive month, all five prime London regions have seen a decline in weekly rentals. With stock levels increasing by 97% compared to this time last year, all the regions in London are hit hard, especially Central London (-2.42%). North West London (-2.35%) and Islington, City & Docklands (-2.30%).

Download Primelocation.com Prime Index March 2009 (*pdf)

This entry was posted on Friday, March 20th, 2009 at 10:31 am and is filed under Rent, 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.