{"id":3104,"date":"2018-02-21T12:32:21","date_gmt":"2018-02-21T12:32:21","guid":{"rendered":"http:\/\/poseidon-gp.com\/property\/?p=3104"},"modified":"2018-02-21T12:32:21","modified_gmt":"2018-02-21T12:32:21","slug":"london-posh-home-lettings-hit-record-high","status":"publish","type":"post","link":"https:\/\/poseidon-gp.com\/property\/london-posh-home-lettings-hit-record-high\/","title":{"rendered":"London posh-home lettings hit record high"},"content":{"rendered":"<p><strong>Houses in prime areas of capital fetching up to \u00a318,000-a-week rent as demand rises<\/strong><\/p>\n<p>Six- and seven-bedroom houses in Notting Hill and Primrose Hill were among a record number of properties rented out at \u00a35,000-plus a week in London last year.<\/p>\n<p>Upmarket estate agent Knight Frank reported the number of its \u201csuper-prime\u201d lettings rose 34% last year to 137, from 102 in 2016. The vast majority of properties are let furnished.<\/p>\n<p>Brits and Americans each accounted for a fifth of tenancies, followed by Russians, the French and Chinese.<\/p>\n<p>One of them was a six-bedroom house in Clarendon Road in Holland Park, let at \u00a318,000 a week. The property would cost \u00a327-\u00a328m to buy.<\/p>\n<p>The gated house has a garden, off-street parking, air conditioning and underfloor heating; six bathrooms, four reception rooms, a utility room, gym and wine cellar.<\/p>\n<p>The number of homes Knight Frank rented out for \u00a315,000 a week or more nearly doubled last year to 20, from 11 in 2016.<\/p>\n<p>They included a seven-bedroom house at Kensington Park Gardens in Notting Hill, with six bathrooms, a billiard room, wine room and garden with water features, let for \u00a315,950 a week.<\/p>\n<p>With house prices falling in parts of London, a growing number of wealthy people are choosing to rent \u2013 also to avoid hefty tax bills. Following increases in stamp duty, property taxes are the equivalent of three to four years\u2019 rent.<\/p>\n<p>Knight Frank set up a super-prime lettings department in 2015 in response to rising demand. Tom Smith, who runs the division, said: \u201cDemand is resilient due to higher rates of stamp duty and the associated uncertainty over the short-term prospects for price growth in the sales market. A lack of clarity regarding Brexit has also been a factor.\u201d<\/p>\n<p>More developers are offering luxury homes for rent because they are struggling to sell them, to avoid big price cuts, Smith said. Owners of top-end properties are knocking about \u00a31m off their prices to sell them, Mayfair-based property buying agent Garrington reported last month.<\/p>\n<p>The average length of a super-prime tenancy rose to 589 days in 2017, compared with 548 in 2016 and 528 in 2015, says Knight Frank.<\/p>\n<p>Most super-prime renters are drawn to west London. Knightsbridge still tops the list for high-end lettings, followed by Mayfair, St John\u2019s Wood, Kensington, Belgravia, Notting Hill and Hampstead.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Houses in prime areas of capital fetching up to \u00a318,000-a-week rent as demand rises Six- and seven-bedroom houses in Notting Hill and Primrose Hill were among a record number of properties rented out at \u00a35,000-plus a week in London last year. Upmarket estate agent Knight Frank reported the number of its \u201csuper-prime\u201d lettings rose 34% [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-3104","post","type-post","status-publish","format-standard","hentry","category-news"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p9PjAq-O4","_links":{"self":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/3104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/comments?post=3104"}],"version-history":[{"count":0,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/posts\/3104\/revisions"}],"wp:attachment":[{"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/media?parent=3104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/categories?post=3104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poseidon-gp.com\/property\/wp-json\/wp\/v2\/tags?post=3104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}