The London Borough of Southwark is now commanding residential rents to rival prime Central London, reports property consultants Cluttons.
Living on the South Bank, which enjoys views of the Thames taking in Tower Bridge, Canary Wharf and St Paul's, is a major draw for City professionals who are choosing the flexibility of the rental sector coupled with ease of access to the City and the Docklands.
Growing demand for apartments in Southwark is fuelling an upward rise in rents to mirror those of traditional prime Central London.
According to the latest Q4 2011 data from Cluttons, studio apartments in Southwark are now achieving average rents of £325 per week, while one-bedroom properties are letting for £500 per week, compared to £328 and £550 respectively in areas of prime Central London.
Source: PropertyTalkLive.co.uk
