Why Are London Rents Going Up?
All this talk of a credit crunch and housing market slowdown has meant many first time buyers are staying on the sidelines and continuing to rent.
This is normal behaviour and one that I explain in the first chapter of “Successful Property Letting – How to Make Money in Buy to Let”
I have already observed on this blog that these first time buyers may be mistaken in some areas, particularly in London, where I don’t expect house prices to fall at all, though there will be a slight increase in opportunities to buy below market value from desperate sellers.
I now see that Savills has reported annual growth of 8 per cent in rent levels in the more up market areas of London while Cluttons, puts the figures at 15 per cent .
Anecdotal evidence from my estate agent friends at the more down market end of the London rental market, indicates the same thing is happening. Indeed, most London agents are now seeing an increasing business from prospective tenants - and landlords & are putting up rents in line with this increased demand.
This is good news for landlords whose rental yields are now low (though that is of course, itself a function of rising house prices and rents that have failed to grow as fast)
It is bad news for tenants!
In London, expect more rental growth and steady house prices for the next year.
If you need advice on buying property to let out or on how to be a landlord ask me.
I’m David Lawrenson from property investment experts http://www.lettingfocus.com/
I’m the author of “Successful Property Letting – How to Make Money in Buy to Let” the UK’s top selling buy to let book.
I’m a public speaker on property investment issues and a freelance property writer and I contribute to newspapers and a host of property websites, write a property investment blog and run a landlord coaching and advice service
You can read more of my landlord blog and details of my networking, advice, property mentoring programme at my website http://www.lettingfocus.com/
My next London landlord networking meeting is on November 14th. Click here for details: Landlord Seminar
What’s unique about lettingfocus.com is that we offer unbiased and independent property advice because unlike most people in the buy to let and property “advice” business we are not linked to a property company, developer, agent or bridging loan financier and do not receive commissions from any of these sources.
If a property investment is lousy – We’ll tell you straight and we will tell you all about buy to let and property investment - the good and the bad and we won’t make silly promises that you’ll become a millionaire overnight.
Copyright: David Lawrenson 2007. This blog is updated at least twice a week
This is normal behaviour and one that I explain in the first chapter of “Successful Property Letting – How to Make Money in Buy to Let”
I have already observed on this blog that these first time buyers may be mistaken in some areas, particularly in London, where I don’t expect house prices to fall at all, though there will be a slight increase in opportunities to buy below market value from desperate sellers.
I now see that Savills has reported annual growth of 8 per cent in rent levels in the more up market areas of London while Cluttons, puts the figures at 15 per cent .
Anecdotal evidence from my estate agent friends at the more down market end of the London rental market, indicates the same thing is happening. Indeed, most London agents are now seeing an increasing business from prospective tenants - and landlords & are putting up rents in line with this increased demand.
This is good news for landlords whose rental yields are now low (though that is of course, itself a function of rising house prices and rents that have failed to grow as fast)
It is bad news for tenants!
In London, expect more rental growth and steady house prices for the next year.
If you need advice on buying property to let out or on how to be a landlord ask me.
I’m David Lawrenson from property investment experts http://www.lettingfocus.com/
I’m the author of “Successful Property Letting – How to Make Money in Buy to Let” the UK’s top selling buy to let book.
I’m a public speaker on property investment issues and a freelance property writer and I contribute to newspapers and a host of property websites, write a property investment blog and run a landlord coaching and advice service
You can read more of my landlord blog and details of my networking, advice, property mentoring programme at my website http://www.lettingfocus.com/
My next London landlord networking meeting is on November 14th. Click here for details: Landlord Seminar
What’s unique about lettingfocus.com is that we offer unbiased and independent property advice because unlike most people in the buy to let and property “advice” business we are not linked to a property company, developer, agent or bridging loan financier and do not receive commissions from any of these sources.
If a property investment is lousy – We’ll tell you straight and we will tell you all about buy to let and property investment - the good and the bad and we won’t make silly promises that you’ll become a millionaire overnight.
Copyright: David Lawrenson 2007. This blog is updated at least twice a week
Labels: Rising rents in London
This entry was posted by lettingfocus, on
Friday, October 05, 2007.
