Unlike sales data which reflects a longer-term mindset, rental data is a great proxy for visualising short-term shifts in priorities within the housing market.
A year of stay-at-home orders and the closing of social venues have led many people to rethink their priorities in terms of where they want to live. Proximity to work is not so important when the office is closed. With commuting times and social attractions removed from people's calculations and perhaps having experienced a lockdown or two in a small flat, lower density living with more space has clearly won out.
Examining the data, we can see that average rental prices in central London districts have fallen dramatically while those areas further out have seen an increase, in some areas a substantial one.
To see our sale and rental price estimates for your flat or house and track the changes over time, go to www.bricksandlogic.com.
Average rental price changes by Postcode District. 31 May 2020 - 31 May 2021
|Largest Falls||Largest Gains|