Notting Hill Lettings Market - October Asking Prices vs Acheived

The Notting Hill lettings market is strong - for cheaper, smaller and well located flats near transport, at least.

Larger flats are proving harder to let and are already being priced accordingly - of the deals agreed over 600 pw properties most are already being priced at between 5% and 15% off last year's asking figures. As you can see from the comparisons below, some are then being let at a further 20% discount.

Nevertheless, as the numbers below show, overall turnover is still relatively healthy and on par with October 2007 turnover by aggregate rent per week across the office (well done Leon, Notting Hill and Kensington lettings manager!).

Average deal prices are actually down around 8%, reflecting the trend towards smaller flats - compensated for by more actual move-ins (by no. of properties) than October 2007.

1F = one bed flat
S = studio
3H = three bed house /etc.


NO. OF ASKING RENT
ROOMS PRICE RECEIVED


1F 450 450
2F 430 430
1F 250 260
1F 365 350
S 375 340
1F 200 200
1F 380 400
2F 395 380
2F 450 430
3F 650 600
1F 350 350
2F 415 400
1F 275 260
2F 375 360
2F 650 650
2F 450 440
2F 495 475
S 225 200
3F 850 725
1F 365 350
2F 625 600
2F 575 510
1F 300 300
1F 350 395
1F 395 360
1F 635 550
1F 425 400
2F 625 590
2F 400 375
1F 325 290
3F 575 565
3H 2250 1600
2F 395 375
2H 350 350
2F 550 550
S 225 210
1F 395 390
1F 425 390
2F 695 670
3H 1500 1400
2H 425 395
S 275 265
1F 450 395
3F 850 795
2F 415 395
2F 1100 875
1F 350 315
1F 365 350
S 285 280
1F 515 460
2F 450 430
1F 295 290
1F 370 325
1F 375 370
1F 395 340
2F 495 450