Abbey Wood, Crystal Palace & Woolwich are among London’s up-and-coming hotspots

London has seen the largest boost to the number of homes available to prospective tenants

The gap between demand and supply remains significant and continues to shape the market.

Rents rose 9% on average in the UK in Q1 2024 compared to the same period in 2023, according to the latest data released by flatshare site, SpareRoom.

Tom Bill, head of UK residential research at Knight Frank, looks at what has been happening in the capital's prime rental market and how underperforming sales are feeding into it.

Average rental yields across Britain are up by 0.5% compared to last year.

Tenant demand for rental homes climbed by +1.5% during the first quarter of 2024, with almost a third of all homes listed for rent already being snapped up by renters.

The rental market is straining under the pressure of high tenant demand which has seen rental costs spiral in recent years.

Newly released data flatshare website SpareRoom suggests that the fall in average rental prices in Greater London could be early signs of a recovery.

Average rental prices in the UK have dropped for a third consecutive month, this time by -0.6%.