The researchers concluded that all locations in the proposed charging zone will see a reduction in journey times and a consequent rise in rental values. However, they found that Livingstone's strategy paper over-estimates the improvement in journey times that congestion charging could deliver.

Healey & Baker partner David Hutchings says: 'The areas that would see the greatest benefit from congestion charging would enjoy improved travel times and ultimately the highest increases in rental values. Certainly, in central London even small percentage changes would translate into very large sums of money when viewed across the property involved. However, the improvements in travel times fall some way short of those suggested in the Mayor's draft plans.'

The analysts found that rents are likely to rise both inside and outside the charging zone if congestion charging is introduced. If it is not introduced, the reduction in travel speeds will have a larger impact on rental values with the City core facing a potential 3.2% fall in office rental values.