Over the past few months from July 2012 - February 2013 national estate agency Strutt & Parker's Knightsbridge office has seen the majority of their properties (39%) let to individuals in their 20s.

The figures clearly reflect the level of wealth and foreign interest in the Prime Central London area. It is an eye opening figure that illuminates how unique this particular pocket of London is in the property market generally. The average rental price during this period was £1,563pw and the most popular property was a 2 bedroom flat (40% of all rentals). There are very few other areas in London where such a young age group are spending so much money on renting.

Nina McDowall, Head of Strutt & Parker Knightsbridge explains that, "This area has always been quite an anomaly compared to a lot of the surrounding areas nearby. There is a huge international demand for flats in the area from wealthy parents helping their children who see the location as a safe place to rent with all the top end amenities that these types of families are used to right on their door step. Cautious and protective parents appear to be wanting to 'test the water' in the area before perhaps buying later down the line."

The figures from the office also show the diversity of tenants with only 23% being registered as British. Americans made up for 11%, The Middle East 6% and Eastern Europe 6% too.

McDowall concludes; "We have always had a very strong international market in the area and our new affiliation with Christies Real Estate (the only British affiliate) has really helped this grow further. This continual wealth coming in will always produce some uncharacteristic trends in the area and the appeal of area remains so strong for those with a high disposable income."

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For more information, please contact:
Charlotte Hessey

Press Office

Strutt & Parker

Telephone: 020 7318 5194

charlotte.hessey@struttandparker.com

Strutt & Parker is one of the largest and most successful independent property partnerships in the UK with a network of offices throughout England and Scotland. Established in 1885, the business provides professional support on all matters relating to land and property - whether offices or farms, country houses or business parks, leisure centres or shooting rights, new home construction or international real estate. With a dedicated, forward-thinking team offering expert knowledge and sound, professional advice, Strutt & Parker can ensure that businesses, farmers, landowners, house-buyers and international investors can make their assets perform to their best ability. To see what else the business has to offer, visit our website at www.struttandparker.com