The document summarizes the residential lettings market in St. John's Wood, London. It discusses that the area is popular with American and Japanese families and professionals due to its schools and proximity to transportation. In demand property types are one- and two-bedroom flats, which rent quickly, and larger family homes of three to five bedrooms. The document provides advice to tenants to be clear about offers and landlords to price properties correctly and work with a reputable agent. The local lettings manager expects a busy spring rental season.

1. SNAPSHOT MARCH 2012
RESIDENTIAL RESEARCH
St John’s wood lettings
Louise O’Driscoll, Lettings Manager for Knight Frank’s
St John’s Wood office, discusses the benefits of living
in the area, where tenants come from, what property
types are most in demand, and how the market is likely
to perform in the coming months.
St John’s Wood is a popular area where families and young professionals
reside. It has become more cosmopolitan over the years and is particularly
popular with tenants from America and Japan, as well as international
students studying at the London Business School. The American School
of London (ASL) in Waverley Place, which is in the top ten in the area, is a
significant attraction for families and more are choosing to relocate here for
this reason. St John’s Wood is a magnet for cricket and music fans – Lords
Cricket Ground is on the doorstep, as is the world-renowned Abbey Road
Studios and the nostalgia that surrounds it, where thousands of visitors have
“walked the walk” across the crossing and paid tribute to The Beatles on
the outside walls. The area benefits from fantastic transport links including
the Jubilee Line (underground) and plenty of buses. Those seeking sport
and leisure facilities have the wonderful open spaces of Regent’s Park and
Primrose Hill, from which you have the most spectacular views over London.
Where do your tenants tend to come from?
We register an influx of American families every year due to the American
School of London. The ASL is very popular and one of the best schools
in central London, so ensuring a place for their child is of the utmost
importance for these families. The area is also popular with Japanese
tenants, from young professionals working in the City or Canary Wharf
(both of which are easy to get to from St John’s Wood underground station),
to those studying at the London Business School. We also source many of
our tenants via our Corporate Services department, which helps companies
likely lose it. Also make sure you are honest with your agent, they are
there to help you. While everyone likes to negotiate, it saves a lot of time
if you make your best and final offer in the first instance and try not to be
one-sided. For example, if your best and final offer is not the asking rent, try
offering a straight 12-month contract. This will show that you are trying to
appease your new landlord and they will appreciate it. Once your offer has
been accepted, alert your referees, as you do not want this process to delay
your move.
to relocate their staff from overseas.
And for landlords?
What makes your local market special?
Landlords should always make sure they have selected the right agent to
Anyone who has heard of The Beatles should have heard of St John’s Wood.
The famous Abbey Road Studios certainly attract plenty of renters to the area.
Cricket fans tend to show an interest in living in ‘The Wood’ because of Lords
Cricket Ground, and who wouldn’t want to be close to the green spaces of
Regent’s Park with its tennis courts, boating lake and the Open Air Theatre.
What property types are most in demand?
Flats with one- or two-bedrooms always rent very quickly. They are extremely
popular with young professionals. Markets will of course fluctuate but rents
for these properties usually start from around £400 per week. The fact that
the area is also in demand with families means we rent the larger houses
quite readily too. Houses in the area can achieve anything from £2,500 up to
£15,000 per week for a three- to five-bedroom property.
What advice do you have for tenants?
Be clear with your offer and make sure you include any wish lists right from
the start. If you see something you like, do not wait around as you will most
market their property. This is based on their marketing and advertising
capabilities and connections in the market, including their international
reach. The agent must have good local knowledge and, perhaps most
importantly, provide weekly feedback. Landlords should try to be flexible
where possible. For example, if they receive an offer from an ideal tenant
but it is not the full asking rent, then it is still worth proceeding with the
offer to minimise the void period. If a tenant asks for a property to be
furnished, it is also worth considering. Good tenants can be hard to find, so
don’t negotiate too hard and risk losing them.
How do you think the market will fare in the
coming months?
The spring months are always fruitful for lettings in our area and I foresee a
few busy months ahead, particularly as there are so many big events being
held in the capital this summer. As usual, as long as the properties are
priced correctly, they will rent.
If you have any queries or would like to obtain additional information on the UK or international housing markets please contact: Liam Bailey, Head of Residential Research, +44 (0)20 7861 5133, liam.bailey@knightfrank.com
© Knight Frank LLP 2012 - This report is published for general information only. Although high standards have been used in the preparation of the information, analysis, views and projections presented in this report, no legal responsibility can be accepted by Knight
Frank Residential Research or Knight Frank LLP for any loss or damage resultant from the contents of this document. As a general report, this material does not necessarily represent the view of Knight Frank LLP in relation to particular properties or projects. Reproduction
of this report in whole or in part is allowed with proper reference to Knight Frank Residential Research. Knight Frank LLP is a limited liability partnership registered in England with registered number OC305934. Registered office: 55 Baker Street, London, W1U 8AN

2. SNAPSHOT MARCH 2012
RESIDENTIAL RESEARCH
St John’s wood lettings
Charting the St John’s Wood lettings market
Figure 2
Figure 1
What do our applicants want to spend?
New applicants, past 12 months
under £500pw
£500pw to £750pw
£750pw to £1,000pw
£1,000pw to £1,500pw
£1,500pw to £2,500pw
over £2,500pw
32%
26%
11%
12%
6%
13%
Return on investment
Prime London residential gross yields, past 5 Years
0.05
0.04
Prime Central
London
0.03
Prime Outer
London
Q1-Q4
2007
Q1-Q4
2008
Q1-Q4
2009
Q1-Q4
2010
Q1-Q4
2011
St John’s Wood properties and the Knight Frank team
let
let
Premier St John’s Wood
location
Detached Victorian
residence
Hamilton terrace
Cavendish Close
2
£475pw
6
£5,000pw
To let
To let
Architecturally designed
Contemporary
refurbished apartment
Yoo Building
St Edmunds Court
1
£550pw
2
£595pw
To let
To let
Spacious garden
apartment
Mews house with terrace
Pindock Mews
Sutherland Avenue
3
£995pw
3
£2,500pw
To let
To let
Gothic style house
Elegant family home
Clifton Hill
Blomfield Road
6
£3,500pw
4
£7,000pw
Knight Frank St John’s Wood Lettings
+44 (0)207 483 8353
stjohnswoodlettings@knightfrank.com
5-7 Wellington Place,
London NW8 7PB
knightfrank.co.uk/st-johns-wood
Louise O’Driscoll
Lettings Manager
Chanel Rodriguez
Lettings Negotiator
Sophie Rodzik
Lettings Negotiator
Vickie Kavanagh
Associate