Renters mull move back to central London to experience city buzz after lockdown lifts
Renters are flooding back to central London in hopes that life will return to the capital when lockdown restrictions are lifted this year.
The latest research showed that online searches for properties in Zones 1 and 2 have surged, as people look to take advantage of falling rental prices.
According to property platform Rightmove, all of the top 10 latest rental hotspots are the two most central travel zones, with searches doubling in areas popular with young professionals such as Nine Elms, Battersea and Clapham.
The latest figures are in contrast with the top rental areas last August, when eight of the 10 most popular areas were outside Zone 1.
In the summer, Canary Wharf was ranked 203 in terms of annual growth in rental searches, but the east London business district has soared up the list now coming in eighth place.
Rightmove’s director of property data Tim Bannister said:“Last year we identified a clear trend of renters moving out to quieter parts of Greater London as the allure of life in the city centre became less appealing during lockdown.
“However, with the prospect of some kind of normality potentially on the horizon, it appears that the capital’s renters are now looking to return to Inner London, and making the move now to take advantage of the lower rents.
“Our list of London’s top rental hotspots is dominated by locations in Zones 1 and 2 and that represents a significant shift in search behaviour.”