THE super-prime lettings market has surged ahead to rival the sales market for the first time in Mayfair’s history, according to Wetherell estate agents.

Two years ago, 70 per cent of the Mayfair estate agency’s revenue came from sales but lettings now account for almost 50 per cent of the business.

‘This is the third super-prime lettings deal that we have done in the past month where the agreement has been sealed within 48 hours,’ says Peter Wetherell, chief executive of Wetherell, adding that young ‘millennials’ in their 20s and 30s now make up the largest proportion of both private tenants and buyers in Mayfair, St James’s, Belgravia, Knightsbridge and Marylebone.

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