The best London area for rent growth revealed
London’s rental market continued to thrive in 2024, with research showing an average monthly increase of 4.3% across the city.
According to data from Benham and Reeves, Shoreditch emerged as the leader, with rents rising by 6.6% per month, outpacing all other areas.
Canary Wharf and Ealing followed closely behind, each experiencing a 5.9% monthly growth.
Kew (5.8%) and Hampstead (5.7%) completed the top five areas.
Marc von Grundherr, Director of Benham and Reeves, commented: “While 2024 brought uncertainty to the London housing market, the capital’s rental market saw sustained high demand from tenants, with rents steadily increasing across all of our offices last year.”
Von Grundherr noted, “In addition to the high demand from international students, we’re also seeing many families looking to relocate to the UK, using the rental market as a way to test out their desired neighbourhoods before committing to a purchase.”
Other strong performers included Knightsbridge (5.5%), Hyde Park (4.7%), Kensington (4.6%), Surrey Quays (4.4%), and Hammersmith (4.1%).
Though White City experienced the lowest growth at 2.2% per month, it still saw a noteworthy increase.
