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TODAY'S OTHER NEWS

Surge in demand for rental properties in London

There has been a significant increase in demand for rental accommodation in London, according to the latest report from Benham & Reeves.

New data covering Q3 2018 shows that the firm experienced its busiest quarter in history with more than 1,000 new tenancies agreed across its 16 branches London-wide. This represents a 22.1% increase in transaction volumes compared with the same period last year.

The figures also reveal that Benham & Reeves currently has 22 applicants registered per property available, up from 16 a year ago, which partly explains why the capital is forecast to see strong growth in rental values moving forward

But for now, rents across London are, in the main, ‘flat’, despite the hike in volume and transactions, according to Benham & Reeves.

However the company added that it ‘sees this trend [in rental prices] changing in the next 12 months’, suggesting that rental values are likely to rise on the back of high demand for property to rent in London.

‘From small units to large, from new-build apartments to period, basement properties, demand has been high across the board, and at every price point,’ said Benham & Reeves.

Poll: Do you think London will see strong growth in rental values over the next year or so?

PLACE YOUR VOTE BELOW

  • Lettings Apex

    Increasing the rate of rental property in Birmingham, United kIngdom.
    But here we are available to provide the best property services to all residential and landlords. Join with us and get the maximum benefits.

  •  G romit

    Unclear whether demand has increased or supply decreased.
    Faux Tory Government tax changes are resulting in 4,000 properties per month reduction in rental properties.

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    Last I heard it was up to 4500 properties per month now. And yet the Times today has an article (by a Tory MP) banging on about UC and homelessness. Not once did he mention S24 which is causing most of the problem.

     
     G romit

    @John

    .......that requires joined up thinking. Not something politicians are renowned for.

     
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