National estate agency Strutt & Parker's Research Team has painted a fascinating picture of how the rental market in London has changed in the past 10 years. Figures from 2001 - 2011 show how significantly different the landscape now is with the majority of boroughs having had an increase of anything between 30 - 230%.

Looking at the attached chart it can be seen that there are a significant number of boroughs where the increase in this sector is dramatic. The boroughs where most increase is seen are those on the outskirts of central London in areas such as Barking and Dagenham and Greenwich.

Stephanie McMahon, Head of Research for Strutt & Parker explains that "These new figures show clearly how the market has spread across London in particular to the West and East. It is widely acknowledged that long-term renting is now immensely common for the younger generation and even more affluent older generations are exploring this different lifestyle option and seeing how much more they can get for their money in rental rather than committing to buying."

The best performing boroughs are Barking and Dagenham with an increase of 230% and Tower Hamlets with over 150%. Whilst these areas have soaring increases traditionally established areas in Prime Central London such as Hammersmith and Fulham as well as Kensington and Chelsea have also seen increases of between 30 - 60%.

Zoe Rose, Head of Lettings for Strutt & Parker comments; "The Prime Central London rental hot spots continue to draw more enquiries than properties available to let which in turn supports healthy rental prices. Although there have been noticeable price adjustments since 2011 there are certain properties where we simply just can't get enough of them. In particular, one to three bedroom smaller and mid-size accommodations are the property of choice and thus supporting optimum rents in this sector of the market. This synchronises with our tenant profiles of younger, longer term renters extending to families. It's fundamentally changing what's hot and what's not in terms of what they wish to rent. This is putting pressure on the very top of the market which remains a market in its own right and one where prices have enjoyed the least favourable increases."

McMahon concludes; "The areas of most change have been those peripheral to zone 1, where government investment and long term infrastructure improvements have resulted in demand. We cannot overlook our prime markets such as Kensington & Chelsea and Westminster though. Here, although the growth levels have not been as dramatic, we still have some of the biggest London rental markets overall"

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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