Throughout London and the South East, the rental market is continuing its growth, remaining dynamic in the face of increased demand. Due to this constant demand, rental yields have been supported and helped landlords enjoy a quick turnaround as well as a lack of vacant properties.
Hamptons International has announced that transactions within their lettings division have increased 6%, in comparison to the same quarter last year. With new applicants increasing 15% from March 2010, higher average rents are being charged across the market. This increase in new potential tenants is being offset by a 17% increase in new rental instructions on the Hamptons’ books, enabling both landlords and tenants to benefit from a buoyant rental market.
London is currently experiencing high demand and pressure throughout the lettings market, due to a number of contributing factors, including the difficulty some first time buyers experience when attempting to raise a deposit. Whilst lending and securing a sizable deposit is an issue for buyers, it will remain advantageous for the lettings industry, with a steady supply of prospective tenants available.
Hamptons Corporate Services team are seeing increased requests from industry, in particular the Energy and Finance sectors, to place senior professionals around London. This increased activity within industry highlights general demand for rental properties throughout London, a demand that looks set to continue throughout 2011.
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