Rather than uproot themselves in the current market, many tenants are staying put and renewing their tenancies. “Another new trend is people moving into town and renting for while to see if they like living there,” suggests Jonathan

Hudson from Hudsons. “After a while, they realise how much they utilise the flat in London, and they decide to stay there.” Hudson also notes how vendors trying to sell their houses are putting them up to rent more quickly – often they have been on the sales market for only four weeks. “They pay for a Home Information Pack and everything, but then decide to rent the property instead.”

With so many people currently renting property in London, there is a good deal of choice for tenants and in the areas Hudson operates in – Fitzrovia, Soho, Covent Garden and Bloomsbury – rents are holding up. “We are having a year similar to last year’s, but I am not sure how long this will last,” he says.

In addition, Hudson finds landlords are being sensible by and large when it comes to pricing and keeping their investments in good condition. “They don’t want to have an empty flat, which will affect their returns.”

Diana Yacob of Bective Leslie Marsh’s Marylebone office says Marylebone remains an extremely fashionable place to rent property. “Before the Jubilee Line existed at Baker Street, the area was not nearly as popular, because professionals did not have easy access to Canary Wharf,” she says. “This change to the transport system has made this sector all the more attractive, with its proximity to both Regent’s Park and the West End.”

The fabulous shops and restaurants on Marylebone High Street contribute to a great village atmosphere. Stock remains low in the area and applicant numbers remain high, Yacob adds.