Knight Frank says landlords are in the driving seat in the prime rental market across London and the Home Counties.
Low supply and high demand means that average rental values in prime central London increased by 3.5 per cent in the first three months of the year.
In prime outer London, there was a rise of 2.5 per cent.
Meanwhile in the year to March average rental values increased by 21 per cent in prime outer London and by 26.3 per cent in prime central London in the year to March.
Rents are now 8.2 per cent higher than they were before the pandemic in prime central London and 7.2 per cent in prime outer London.
The number of market valuation appraisals (a leading indicator of supply according to the agency) was 25 per cent higher in the year to March than the previous 12 months. At the same time, the number of new applicants was 48 per cent higher.
“Demand is still outstripping supply,” says Gary Hall, head of lettings at Knight Frank.
“It’s good news for landlords as it means void periods are very short. For tenants, it is still a tough market and decisions need to be taken quickly. It has been this way for nine months and I can’t remember seeing these sorts of conditions for this length of time.”
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Let us see this rental world after EPC C comes in ........ then we will see the true extent of this govts total lack of competence.
Less available properties to rent and rents for what's left rocketing , that's what EPC 'C' will cause
It’s all planned , thus way they destroy the middle and working class who’s only asset is their home , everything is state owned , You rent everything
Basically the new world order = global communism controlled by a global elite , you can see the plandemic as an example of their power . People taking an experimental gene therapy for what is basically the common cold renamed by a morally corrupt media
If this post doesn’t get deleted I’ll be amazed 😂
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