Prime London residential rents hit new record

Prime London rents rose 0.4% in April, according to the latest figures from Knight Frank.

The latest monthly rise – the 20th in succession – contributes to an annual growth rate of 16.3%.

Rents in central London are now at a record high, up 25% since their low point in June 2009 and marginally exceeding the previous peak reached in March 2008 by 0.2%.

Liam Bailey, Head of Knight Frank Residential Research said: "The central London residential lettings market has been enjoying a quiet boom over the past 18 months.