Friday, October 05, 2007
Why Are London Rents Going Up by Letting Focus
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 much 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 .
More Demand from Tenants
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 steadyish house prices for the next year.
ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
I’m David Lawrenson, the author of “Successful Property Letting” - the UK’s top selling property and buy to let book for the last 3 years.
I have been a landlord and property investor myself for over 25 years.
At LettingFocus we offer independent unbiased seminars for buy to let investors and landlords as well as one to one advice covering all aspects of buy to let, finding and managing tenants and investing in property.
The difference with me is that as I am not linked to a property company, developer, estate agency or bridging loan provider I am able to give unbiased independent advice on where to buy (which areas), what type of property to buy, when to buy and how to buy property at a low price. I can also explain how to reduce the risk of getting a bad tenant.
CHECK OUT THESE PAGES AT OUR SITE LETTINGFOCUS.COM:
Our Events only take place twice a year.
For our NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors click here:
Next Property Investing Seminar and Networking Event
We have GREAT OFFERS for landlords too, Click here: Services and Products for Landlords to see our Landlords Resources (Useful Links) page. (Selling services to landlords and property investors and have a national coverage? You could be a partner, please get in touch!)
For general info on our SEMINARS AND CONSULTING click here: Property Seminars, Networking Evenings and Consulting
ONE TO ONE CONSULTING click here: Property Consulting
CLIENT TESTIMONIALS from past customers click here: Testimonials
BUY THE BOOK click here: Buy the Book at Amazon
THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to david@LettingFocus.com - Please note we WILL NOT send spam or sell our mailing list to advertisers!
LIKE THIS PAGE AND HAVE A LANDLORD WEBSITE , THEN WHY NOT LINK TO THIS BLOG POST OR OUR WEBSITE?
WANT TO BE KEPT UPDATED WITH OUR LATEST BLOGS?
Over on the right hand side under all the previous blog entries you will find a button which says “Site Feed.” Simply copy the site feed link into your News Reader or News Aggregator.
If you have a website & are thinking of reproducing material here, that’s fine but we DO require a link to the blog to be included, including also all the links in this section. (The full article including all links must be available to ALL VIEWERS of your site and not restricted.)
Have You Seen this Article which looks at Letting to Students? http://www.lettingfocus.com/pages/myarticles_student_lettings.html
Lots more interesting articles on letting and buy to let at www.LettingFocus.com
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 much 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 .
More Demand from Tenants
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 steadyish house prices for the next year.
ABOUT LETTINGFOCUS.COM and DAVID LAWRENSON
I’m David Lawrenson, the author of “Successful Property Letting” - the UK’s top selling property and buy to let book for the last 3 years.
I have been a landlord and property investor myself for over 25 years.
At LettingFocus we offer independent unbiased seminars for buy to let investors and landlords as well as one to one advice covering all aspects of buy to let, finding and managing tenants and investing in property.
The difference with me is that as I am not linked to a property company, developer, estate agency or bridging loan provider I am able to give unbiased independent advice on where to buy (which areas), what type of property to buy, when to buy and how to buy property at a low price. I can also explain how to reduce the risk of getting a bad tenant.
CHECK OUT THESE PAGES AT OUR SITE LETTINGFOCUS.COM:
Our Events only take place twice a year.
For our NEXT SEMINAR AND NETWORKING EVENT for Landlords and Property Investors click here:
Next Property Investing Seminar and Networking Event
We have GREAT OFFERS for landlords too, Click here: Services and Products for Landlords to see our Landlords Resources (Useful Links) page. (Selling services to landlords and property investors and have a national coverage? You could be a partner, please get in touch!)
For general info on our SEMINARS AND CONSULTING click here: Property Seminars, Networking Evenings and Consulting
ONE TO ONE CONSULTING click here: Property Consulting
CLIENT TESTIMONIALS from past customers click here: Testimonials
BUY THE BOOK click here: Buy the Book at Amazon
THE HOME PAGE OF THIS BLOG click here: Blog
THE HOME PAGE OF OUR MAIN SITE click here: LettingFocus Home Page
To JOIN our Free QUARTERLY NEWSLETTER simply send an email to david@LettingFocus.com - Please note we WILL NOT send spam or sell our mailing list to advertisers!
LIKE THIS PAGE AND HAVE A LANDLORD WEBSITE , THEN WHY NOT LINK TO THIS BLOG POST OR OUR WEBSITE?
WANT TO BE KEPT UPDATED WITH OUR LATEST BLOGS?
Over on the right hand side under all the previous blog entries you will find a button which says “Site Feed.” Simply copy the site feed link into your News Reader or News Aggregator.
If you have a website & are thinking of reproducing material here, that’s fine but we DO require a link to the blog to be included, including also all the links in this section. (The full article including all links must be available to ALL VIEWERS of your site and not restricted.)
Have You Seen this Article which looks at Letting to Students? http://www.lettingfocus.com/pages/myarticles_student_lettings.html
Lots more interesting articles on letting and buy to let at www.LettingFocus.com
Copyright: David Lawrenson 2007. This blog is updated at least twice a week
Labels: house price crash, house price forecasts, House price outlook, London house prices, London Rents, Rising rents in London
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