> **来源:[研报客](https://pc.yanbaoke.cn)** # Prime Yield Guide – January 2026 Knight Frank Intelligence Yields are reflective of an optimum sized income-focused transactions of prime, stabilised institutional-grade assets. Yields are provided on a Net Initial Yield (NY) basis assuming a rack rented property. <table><tr><td></td><td colspan="2">SECTOR</td><td>JAN-25</td><td>AUG-25</td><td>SEPT-25</td><td>OCT-25</td><td>NOV-25</td><td>DEC-25</td><td>JAN-26</td><td>1 MONTH CHANGE</td><td>MARKET SENTIMENT</td></tr><tr><td rowspan="4">Build to Rent</td><td rowspan="4">Student Property</td><td>Prime London - Direct Let</td><td>4.25%</td><td>4.25%</td><td>4.25%</td><td>4.25%</td><td>4.50%</td><td>4.50%</td><td>4.50%</td><td></td><td>STABLE</td></tr><tr><td>Prime Regional - Direct Let</td><td>5.00% - 5.25%</td><td>5.00% - 5.25%</td><td>5.00% - 5.25%</td><td>5.00% - 5.25%</td><td>5.25% - 5.50%</td><td>5.25% - 5.50%</td><td>5.25% - 5.50%</td><td></td><td>STABLE</td></tr><tr><td>Prime London - 25 yr lease, Annual RPI</td><td>4.25%</td><td>4.00%</td><td>4.00%</td><td>4.00%</td><td>4.00%</td><td>4.00%</td><td>4.00%</td><td></td><td>STABLE</td></tr><tr><td>Prime Regional - 25 yr lease, Annual RPI</td><td>4.50%</td><td>4.25%</td><td>4.25%</td><td>4.25%</td><td>4.25%</td><td>4.25%</td><td>4.25%</td><td></td><td>STABLE</td></tr><tr><td rowspan="2">Co-Living</td><td>Zone 1 London Prime</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td></td><td>STABLE</td></tr><tr><td>Prime Regional</td><td>5.00% +</td><td>5.00% +</td><td>5.00% +</td><td>5.00% +</td><td>5.00% +</td><td>5.00% +</td><td>5.00% +</td><td>5.00% +</td><td></td><td>STABLE</td></tr><tr><td rowspan="9">Build to Rent</td><td>Zone 1 London Prime</td><td>3.90% +</td><td>3.90% +</td><td>3.90% +</td><td>3.90% +</td><td>3.90% +</td><td>3.90% +</td><td>3.90% +</td><td>3.90% +</td><td></td><td>STABLE</td></tr><tr><td>Zone 2 London Prime</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td></td><td>STABLE</td></tr><tr><td>Zones 3-4 London Prime</td><td>4.15% +</td><td>4.15% +</td><td>4.15% +</td><td>4.15% +</td><td>4.15% +</td><td>4.15% +</td><td>4.15% +</td><td>4.15% +</td><td></td><td>STABLE</td></tr><tr><td>Greater London Prime</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td></td><td>STABLE</td></tr><tr><td>South East Prime</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td>4.25% +</td><td></td><td>STABLE</td></tr><tr><td>Tier 1 Regional Cities</td><td>4.50%</td><td>4.50%</td><td>4.50%</td><td>4.50%</td><td>4.50%</td><td>4.50%</td><td>4.50%</td><td>4.50%</td><td></td><td>STABLE</td></tr><tr><td>Tier 2 Regional Cities</td><td>4.75% +</td><td>4.75% +</td><td>4.75% +</td><td>4.75% +</td><td>4.75% +</td><td>4.75% +</td><td>4.75% +</td><td>4.75% +</td><td></td><td>STABLE</td></tr><tr><td>South East - Single Family Housing</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td>4.00% +</td><td></td><td>POSITIVE</td></tr><tr><td>Regional - Single Family Housing</td><td>4.50% +</td><td>4.50% +</td><td>4.50% +</td><td>4.50% +</td><td>4.50% +</td><td>4.50% +</td><td>4.50% +</td><td>4.50% +</td><td></td><td>POSITIVE</td></tr><tr><td>Seniors Housing</td><td>Prime South East</td><td>5.25% +</td><td>5.25% +</td><td>5.25% +</td><td>5.25% +</td><td>5.25% +</td><td>5.25% +</td><td>5.25% +</td><td>5.50%</td><td>+0.25</td><td>STABLE</td></tr></table> # KEY RESEARCH CLICK TO DOWNLOADSTUDENT CLICK TO DOWNLOADSENIORS Knight Frank Research looks at the latest investment and development trends in the UK Living sectors # Knight Frank V&A # Did you know In addition to valuing assets in the main property sectors and having award winning teams in the Healthcare, Student and Automotive sectors, Knight Frank also has expertise in : - Waste and Energy Infrastructure - Garden Centres Film Studios Serviced Offices Data Centres Life Sciences Income Strips Ground Rents - Trading assets Expert Witness - IPOs # KEY CONTACTS VALUATIONS / RESEARCH We like questions. If you would like some property advice, or want more information about our research, we would love to hear from you. Hannah Williams Associate - Valuation & Advisory - Build to Rent +44 20 3540 2420 Hannah.Williams@knightfrank.com Neil Armstrong Partner - Valuation & Advisory - Head of Student +44 20 7861 5332 Neil.Armstrong@KnightFrank.com Peter Youngs Partner - Valuation & Advisory - Head of Seniors Housing +44 20 7861 1656 Peter.Youngs@KnightFrank.com David Shapland Partner - Valuation & Advisory - Head of Build to Rent +44 20 7861 5455 David.Shapland@KnightFrank.com Sarah Jones Partner - Valuation & Advisory - Student Property +44 20 7861 1277 Sarah.Jones@KnightFrank.com # KEY CONTACTS CAPITAL ADVISORY Lisa Attenborough Partner - KFCA - Head of Capital Advisory +44 20 3909 6846 Lisa.Attenborough@KnightFrank.com Knight Frank Research Reports are available at knightfrank.com/research Knight Frank Research provides strategic advice, consultancy services and forecasting to a wide range of clients worldwide including developers, investors, funding organisations, corporate institutions and the public sector. 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