The impact of Britain’s decision to leave the European Union has not hit the central London lettings sector as much as expected - at least not yet.
Data from London Central Portfolio - an investment consultancy that provides authoritative market snapshots of the sales and lettings sectors in the capital - says the first quarter of 2019 has seen rents increase slightly for both renewals and re-lets by 0.2 and 0.1 per cent respectively.
Annually, renewals are up 0.4 per cent.
“As a rule, rents are correlated to the cost of purchasing a property. With continuing low borrowing costs and prices falling, we would not expect much upward movement. On top of this, landlords remain concerned about Brexit, putting tenants into a strong negotiating position” explains Naomi Heaton, chief executive of LCP.