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Despite a still volatile environment in relation to the health crisis, rental values<\/strong> for luxury properties in London<\/strong> are now well above those of 2020<\/strong>. According to property consultancy Knight Frank<\/strong>, in January<\/strong> the annual change in central London was up 19.8% on last year. Areas outside London were also up 16.6% in January.<\/p>\n <\/p>\n “The unprecedented context of the pandemic has led to exceptional growth in rental values over the past year,”<\/em> said Tom Bill, Head of UK Residential Research<\/strong> at Knight Frank<\/strong>.<\/p>\n <\/p>\n People wanting to rent are therefore facing a rise in rental prices in London.<\/p>\n <\/p>\n “It’s a difficult time for tenants at the moment, rents are rising and stock availability is low, which means transaction volumes are lower website<\/a>. That said, we expect stock levels to start improving later this year,”<\/em> said Gary Hall, Head of Lettings <\/strong>at Knight Frank<\/strong>.<\/p>\n <\/p>\n Indeed, research by property firm Zoopla<\/strong> has revealed that rents in the UK are now \u00a362<\/strong> per month higher on average than in March 2020.<\/strong><\/p>\n <\/p>\n During the health crisis, prices in London boroughs have remained relatively stable, however they are now gradually increasing. Over the year, average prices rose by 1.5%<\/strong> in the Prime Central London<\/strong> geography, the highest annual rate since August 2015<\/strong>. In outer London, average prices rose by 3.5%<\/strong>, the highest annual growth since June 2015<\/strong>.<\/p>\n <\/p>\n <\/p>\n