Rent in London’s Poshest Postcodes Falls for the First Time in Four Years

Rents in London’s most prestigious neighborhoods declined for the first time in over four years as an increase in supply eased the pressure on the city’s rental market.

Rental values across prime London — which includes the British capital’s most affluent postcodes — fell 0.6% year-on-year in December, according to data from researcher LonRes. That’s the first annual fall in rental prices since summer 2021, when the UK was preparing to end its Covid-19 lockdown rules.