South & South East London properties see the biggest rent increases in the capital
- 13th September 2019
- Landlord Property News
The largest increase in rental prices of all London boroughs was in Southwark – up 12% to £2,749 a month
South & South East London are now home to five of the top 10 areas in London where rents have risen the fastest over the past year, shows new research from Rightmove. These regions of London include the up and coming areas of Forest Hill, Sutton, Stockwell, Kennington and Southwark.
According to the leading property website, the area that has seen the biggest rise in rent is Southwark, which saw a 12% increase this year to £2,749 a month up from £2,455 in July 2018.
Our own research reveals that the average rents for buy-to-let properties in London’s South East boroughs have risen by 5% in the last year to £1,560 in Q1 2019, up from £1,491 in Q1 2018, the largest increase across the capital.
South East London is now home to a number of locations which are becoming increasingly popular with young professionals such as Lewisham and Forest Hill. Their vibrant culture, and excellent range of independent shops, bars and restaurants pull in renters from far and wide.
Lewisham, one of South East London’s fastest growing areas, has benefited from major regeneration developments, such as the Lewisham Gateway development that plans to include up to 800 new homes, shops and restaurants.
This is great news for landlords, who are set to benefit from a considerable boost in income from their properties in these areas and this growth has shown no sign of slowing even in the face of slight economic uncertainty.
Stephen Ludlow, Chairman at ludlowthompson, says: “South & South East London are great locations for renters who wish to live in an area that has both the buzz of city life with more space for your money. With an abundance of parks and plenty of stylish hangouts, the south side of the river is ideal for young professionals.”
“Landlords who have properties in these areas should be seeing more income, while prospective landlords would be well advised to look at the area for potential investment.”
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms. Over a three-year period, we ranked number 1 agent in the UK on all agents out of 15,000+ agents, with 5300+ 5* reviews. Here is a selection of recent reviews of happy customers of ludlowthompson via Google Reviews:
Sally Crawley via Google Reviews:
"Massive thank you to Michael Rourke from the tooting office. We needed some advise on renting our property and he was more than happy to answer all out questions and explain everything."
Jade Sweeney via Google Reviews:
“We just rented a property at the Oval office through Joao, he was really helpful and friendly, and allowed the process to go as smoothly as it could go. We are also very happy with our chosen property!”
“South & South East London are great locations for renters who wish to live in an area that has both the buzz of city life with more space for your money. With an abundance of parks and plenty of stylish hangouts, the south side of the river is ideal for young professionals.”
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