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Cluttons, a network of estate agents covering property sales and lettings across London, has already had a number of tenants based in the Belgravia and Wapping areas give notice on their rental properties since the investment house declared itself bankrupt.

Richard Cotton, divisional head of residential agency at Cluttons, said that one tenant, who is also an ex-Lehman employee, had requested his deposit be used for his final month's rent, as he unsure if he would be paid his salary at the end of September.

Cotton said: "It is too early to assess the true impact of the Lehman collapse on the London property market, but it is not surprising to see city tenants who have lost their jobs already giving notice.

"I would expect to see more of this over the coming weeks, which is likely to result in a dip in rents in areas which are popular with city workers such as Docklands, Wapping and Belgravia.

"It is probable that forced sales will also increase in these key areas, as city workers are forced to sell up, whatever the cost."

As many as 5,000 workers at both of the Lehman Brothers UK branches are expected to lose their jobs in the coming months.