Rental values for high-end properties across prime central London rose sharply in the first half of 2026 even as the number of available homes shrank, according to Beauchamp Estates’ Millionaires Letting in London Survey. Rents for houses and mansions climbed 67.15% year-on-year to an average £4,177 a week (£217,204 a year), while apartments and penthouses rose 15.12% to an average £1,957 a week (£101,764 a year).
The survey tracked properties let between January and June 2026 at weekly rents above £1,000. The highest-value deals included a Mayfair house on Mount Street let for £33,000 a week and a Chelsea townhouse on Cheyne Walk let for £30,000 a week.
Supply told the other half of the story: there were 1,911 rentals above £1,000 a week in H1 2026, down 44.48% from the same period in 2025. At the same time, demand from international tenants rose — enquiries from Middle Eastern applicants were up 30%, American applicants up 20% and Chinese applicants up 5% during 2026. Beauchamp Estates said seven in ten households in the ultra-prime segment now choose to rent rather than buy, which it linked to uncertainty around potential property tax changes and the rollout of the Renters’ Rights Act.
Jeremy Gee, Managing Director of Beauchamp Estates, said landlords with turn-key luxury homes are facing less competition, rising rental values and strong demand from tenants, but cautioned that “excessive legislation and taxation are harmful to the capital’s rental market, hence the contracting supply pool.” He added that international households choosing to live and spend in London mean it is “important that the Government helps the capital’s rental market to thrive and grow.”
References
Beauchamp Estates via PropertyWire – Prime London Rental Values Rise 67% as Supply Contracts
