London’s Top-Performing Rental Markets of 2024 Ranked

Top-Performing Rental Markets

Across London, achieved rents increased by an average of 4.3% per month in 2024. However, some areas significantly outperformed this figure, with Shoreditch seeing the highest average monthly growth at 6.6% per month. 

Following closely behind were Canary Wharf and Ealing, both recording 5.9% monthly rental growth. Other high-growth rental markets included Kew (5.8%), Hampstead (5.7%), and Knightsbridge (5.5%), demonstrating that demand is strong in both traditional prime areas and emerging hotspots.

While White City saw the weakest growth, it still experienced an average 2.2% monthly increase, demonstrating that rental prices have trended upwards across the capital.

Key Drivers Behind London’s Rental Boom

Despite uncertainty in the wider housing market, London’s rental sector has remained highly competitive, driven by:

• Strong domestic demand, particularly from young professionals and relocating families
•  High levels of international student demand
• Overseas renters using the market to ‘try before they buy’ in key neighbourhoods 
• Limited rental stock, pushing prices higher in many areas

Final Thoughts

London’s rental market has remained resilient, with steady price growth and ongoing demand from both domestic and international tenants. As we move into 2025, areas such as Shoreditch, Canary Wharf, and Ealing are set to continue performing strongly, with increasing numbers of renters looking for well-connected locations with lifestyle appeal.

At Winkworth, we help landlords and tenants navigate London’s dynamic rental market. Whether you’re looking to let your property or find the perfect home, our expert team is here to guide you through the process. Get in touch today to discuss your options in London’s thriving rental sector.

Sources: Land Registry, Benham and Reeves, PrimeResi