Prime Central London sales and rental results for June 2013

Prime central London residential prices increased by 0.4% in June and by 3.7% in 2013 to date

·         The Strongest price growth has been seen in the sub-£1m price bracket, where prices are up by 6.6% in 2013 to date

·         The biggest price rises during June were seen in Marylebone (2.8%) and the South Bank (1.4%)

·         Over the past 12 months, price growth in prime central London has totalled 6.9%

·         Prime central London rents fell by 0.1% in June

·         Rents have fallen by 0.4% over the first six months of 2013, but only by 0.1% during Q2 2012

·         St John’s Wood was the only area where rents increased in June, up by 0.3%

·         Rents are 21.8% higher than their post-financial crisis low in Q2 2009

Prime central London property prices rose again in June and are almost 60% higher than the market trough in 2009. However, as Liam Bailey, Global head of Knight Frank Residential Research explains, price growth is varied across price bands.