• Even in one location, rental prices will vary greatly between a three bedroom flat or home versus a two bedroom, versus a studio, versus a one bedroom. Prices also vary based on number of bathrooms and on how new or old the unit is. We were not informed what type of rentals we should be focused on, so we are presenting averages across all types of units.
• We were not provided information surrounding whether we should be looking at commercial rentals, residential rentals, or both. We have focused on residential. If this is not correct, that would clearly have to be communicated to us in any reply.
• As a reminder, Wonder only uses publicly available sources. We do not have access to paid databases or paywalled reports, but we can cite them in research for reference only [in case purchase is desired]. If that is of interest, that would clearly have to be communicated to us in any reply.
• "Rents in London continued to drop during Q4, standing at £1,317, which is 0.38% lower than in Q3 and 2.08% less than the previous year. "
• "This drop was biggest in Central London, where average rent was £1,377 in Q4 2020, which is 1.01% less than Q3 2020 and 3.77% less than the same period in 2019. " The data in this bullet point, and the one above, is collected from a database of 1.8 million current tenancies. 
• London remains "proportionately the most expensive area to rent, with costs standing at 39% of average UK income."
• This paywalled source "shows the forecast annual change in rental prices in London (UK) between 2019 and 2024, as of May 2020. As the forecast shows, rental prices in both Greater London and Prime Central London were expected to fall by two percent between 2019 and 2020, largely due to the impact by the coronavirus (covid-19) crisis." We do not have access to the full source. What we have provided is the summary.
•  London Rents Map shows average monthly private sector rents for different types of home across London. To use the "Search the Rents Map" simply enter a location and a property type in the box provided on the site. The map is updated quarterly; the latest update was on 20 November 2020 and contained data for the year to September 2020.
• "Private rents in London have dropped for the second quarter in a row, with some areas posting sharp falls of up to 34% year-on-year."
• Room rents across London have fallen compared with last year. A chart detailing this can be viewed here.  
• In the Greater London region, the average rent in December 2020 was £1,556 , compared to £1,630 for the same month in 2019. This reflects a -4.5% decrease. When looking at November 2020, the average rent was £1,576 in the Greater London region.
•  Home.co.uk asserts that they are the UK's most comprehensive property search company. They have the most up-to-date rent data by town and postcode. Their rental price analysis summarizes the advertised rents for homes to let, calculated daily from the rental properties found by the Home.co.uk Property Search Engine. According to this site, the current average property rents in London Central by number of bedrooms and by per calendar month are: one bedroom: £2,344, two bedrooms: £3,750, three bedrooms: £6,464, four bedrooms: £9,116, and for five bedrooms: £15,812.
•  In Q4 of 2020, "of the 10 London postcodes which had seen the biggest drop in prices, eight were in travel zone one (the most central part of the city). The postcode where rent had fallen the furthest year-on-year was EC3 (Aldgate), with prices down by an average of 26 per cent. Rents in SW1 (Westminster/Belgravia/Pimlico) were down 23 per cent and, in third, prices in EC2 (Bishopsgate/Cheapside) fell 21 per cent. " 
•  In Q4 of 2020, "only nine of London’s 120 postcodes saw an increase in rent compared with the same period in 2019, and these were all outside of zones one and two. The biggest jump in prices was in SE20 (Penge) and N12 (North Finchley), both up eight per cent. This was followed by E4 (Chingford), up five per cent, and SE7 (Charlton), up four per cent." 
• To view a list of where rents have risen the most in London for Q4, click here. To view a list of where rents have fallen the most in London for Q4, click here. 

Summary Of Our Early Findings Relevant To The Goals

• As discussed at the top of the document, even in one location, rental prices will vary greatly between a three bedroom flat or home versus a two bedroom, versus a studio, versus a one bedroom. Prices also vary based on number of bathrooms and on how new or old the unit is. We were not informed what type of rentals we should be focused on, so we are presenting averages across all types of units.
• We were not provided information surrounding whether we should be looking at commercial rentals, residential rentals, or both. We have focused on residential. If this is not correct, that would clearly have to be communicated to us in any reply.
• As a reminder, Wonder only uses publicly available sources. We do not have access to paid databases or paywalled reports, but we can cite them in research for reference only [in case purchase is desired]. If that is of interest, that would clearly have to be communicated to us in any reply.
• The initial hour of research focused on ensuring that the research questions could be answered with publicly available sources, and then providing some relevant and salient data points surrounding them.
• We were able to provide Q4 results surrounding where rental prices and grown and declined in London overall. There is no publicly available source that focuses only on Central London. **We are not suggesting further research for that specific area**, unless looking for paid reports, and providing the links to them [if they exist] is something that would be desired. If so, that would have to be clearly communicated in any reply.
• We found a source that breaks down monthly rents based on price, number of bedrooms, and by type of rental. We provided the data for central London, but any other part of London can be accessed by using this site.
• We feel we have provided what is available surrounding the research questions, and will be offering no further research for those specific things, but we have provided some research options below.
• Please select one or more of the options provided in the proposed scoping section below.