King’s Cross has seen the strongest growth over the last six months, with rental value growth of 16.8%, followed by Bayswater at 15.7% and Wapping at 14.2%, according to new research.

Demand from students remains strong in King’s Cross despite the academic year having started, whereas growth in Bayswater is partly down to the ‘escape to the country’ trend, Knight Frank’s latest analysis reveals.

Strong rental value growth in areas like Wapping and Canary Wharf are explained by the fact more offices are now open, with many workers seeking a base close to work. the agency would expect that trend to continue if further lockdowns are avoided.

Meanwhile, Notting Hill and St John’s Wood have both benefitted from the ‘race for space’, with historically-low supply driving rents higher. If Covid measures tighten further, both areas – as well as Bayswater – may experience a further pick-up in demand.

Average rents rose 5.3% in the three months to November in prime central London (PCL) while there was an increase of 5.1% over the corresponding period in prime outer London (POL). It was the largest quarterly gain in POL since March 2004 and the biggest such increase in PCL since September 2010.

It would take more than a minor setback with Omicron to put a meaningful dent in this recovery, the company says.