Shoreditch topped the table as London’s best performing rental market in 2024, with rents increasing by 6.6% per month, according to data released by Benham and Reeves.
Canary Wharf and Ealing followed closely, both showing an average rental growth of 5.9% per month.
Other areas such as Kew (5.8%) and Hampstead (5.7%) also featured in the top five.
Knightsbridge saw rents rise by 5.5% per month, while Hyde Park (4.7%), Kensington (4.6%), Surrey Quays (4.4%), and Hammersmith (4.1%) completed the top 10.
Despite being the area with the lowest rental growth, White City reported an increase of 2.2% per month on average.
Marc von Grundherr, director of Benham and Reeves, said: “Whilst 2024 may have been an uncertain year for the London housing market, the capital’s rental market continued to experience huge demand from tenants and we’ve seen the rents achieved across all of our offices trend upwards over the course of last year.
“Much of this has been due to domestic demand but foreign interest continues to play a significant role.
“Not only are we seeing a high demand from international students, but also a great deal of families looking to relocate to the UK, utilising the rental market to try before they buy in their neighbourhoods of choice.”
