The trend of landlords selling because of the Renters Rights Bill is now being felt in prime central London, as well as the rest of the country.
Analysis by high-end lettings agency Beauchamp Estates shows a decrease in available stock as some of London’s traditional landlords have been gradually selling their rental portfolios.
For this wealthy sector, the Bill’s impact has been made worse by the government’s changes in the Non-Dom Taxation system, which the agency says “has driven some of the traditional landlords to relocate to the Middle East or Asia where they have started to build new rental-income portfolios in Dubai, Abu Dhabi, Singapore and Malaysia.”
However, the agency says some of the stock shortage caused by the exodus has been offset to a new wave of so-called ‘accidental landlords’ – owner occupiers putting their homes onto the long-term rental market because they would rather benefit from rental income than sell their home at a price they cannot accept.
There has also been a rise in turn-key properties in new developments, available to let by developers on a discreet off-market basis, the developers choosing to rent their stock rather than cut their listing prices.
Beauchamp says those landlords who have left have done so just as the luxury home rental market in prime central London has more than doubled in size since the New Year.
The agency says some 1,588 lettings deals of over £1,000 per week have been struck during the first half 2025, generating a combined rental income of £82.8m, compared to H1 2024 when there were just 559 deals generating an income of £32.6m.
Using its own data plus information from LonRes – plus what it calls “local market intelligence” – the agency’s annual Millionaires Letting in London Survey analyses houses and apartments rented across Prime Central London for values of over £1,000 per week (£4,333 per calendar month).
This year’s biggest super-prime lettings deals so far are £28,000 per week (£112,000 per month) for a house on Mansfield Street in Marylebone, and the biggest apartment deal, a flat on Wigmore Street in Marylebone, let for £15,000 per week (£60,000 per month)
Of the £82.8m of combined rental income, £77.4m (93%) can be attributed to long-term rental agreements, and £5.4m (7%) from short-term lets.
This article is taken from Landlord Today