Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Demand for Property to rent in London Continues to Soar

By John M. Alcorn Subscribe to RSS | June 8th 2012 | Views:
loading
 
  



Now is a generally good time to be a landlord in London. Tenant demand is rising at a rapid pace while the supply of residential properties coming into the market remains historically low, pushing rents higher in the process.

The housing shortage is owed in part to the lack of new build homes coming onto the market. Residential property construction levels are at their lowest level since the 1920s, and this trend is expected to continue for the foreseeable future.

Furthermore, tight mortgage lending conditions are denying many people the opportunity to buy property, forcing them into rental accommodation instead.

Unsurprisingly, landlords are vying against one another to take advantage of favourable market conditions and add to their property portfolios.

A study by independent researchers BDRC Continental revealed that during the first three months of this year, landlords increased their portfolio size by an average of 1.8 properties. Yet of those landlords that took part in the survey, 20 percent said that they would seek to buy another investment home within the next 12 months.

David Salusbury of the National Landlords Association said: "Early signs of increasing property acquisition suggest that landlords are feeling more confident about future prospects of the buy-to-let market."

Fierce competition for homes in London means that rent costs tenants an average of 40 per cent of their net income, with 16 per cent of renters in the capital paying more than 60% of their take home pay, according to Rightmove's latest consumer confidence survey.

Demand for property to rent in London is generally greatest in primary areas in boroughs like Westminster, Kensington and Chelsea as well as Hammersmith and Fulham.

Robert Bartlett, CEO of Central London estate agents Chesterton Humberts, comments: "The prime London residential market continues to outperform the UK property market."

Leading estate agents Sandfords report that Marylebone is currently one of the most sought-after areas to live in the capital, reflected by the lack of property to rent in Marylebone in relation to demand.

"Prices are high and supply short in prime Marylebone", said Sandfords' Andrew Ellinas. "For those looking to secure their offspring in good educational establishments, Marylebone has well regarded business schools, increasing its popularity with people from the UK and overseas."

Fierce competition for homes in the capital means that high rental demand is also rippling out to secondary areas.

"Agents report that the seemingly incessant demand is causing rental price pressure to spill over into other previously less sought-after areas," said Rightmove director Miles Shipside.

With the private-rented sector playing an increasingly important role in the provision of housing, John Heron, director of Paragon Mortgages, says that he is not surprised that landlords are benefitting from attractive investment conditions in the market.

"There is still a long way to go to meet the increasingly high level of tenant demand," he said. "More investment across the private rented sector is needed during the coming year to help to meet this demand."

John M. Alcorn - About Author:
John Alcorn talks to various Central London estate agents and finds that demand for property to rent in London is soaring, particularly as far as property to rent in Marylebone in concerned.

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:
http://www.articleside.com/real-estate-articles/demand-for-property-to-rent-in-london-continues-to-soar.htm

Related Real Estate Articles Subscribe to RSS

Real Estate Agent can be a good Profit maker for your property
Published by Mayank Gandhi on February 28th 2012 | Real Estate
feedbackhere.com: We provide easy to find Real Estate Agent for consumers vendors to make searching ...
 
Decisions to be made during property restoration process
Published by Larry King on June 20th 2012 | Real Estate
As the restoration process proceeds, there are many decisions to be made including those relating to...
 
HOA management- Capable providers for financial as well as property management
Published by Ema Sis on January 12th 2012 | Finance
HOA management companies shall be actual asset for communal administration amenities. They undertake...
 
London property management services growing increasingly important
Published by John M. Alcorn on February 18th 2012 | Real Estate
Many landlords take property management for granted. But with rental prices at an all-time high and ...
 
Look out for the best property in Houston, Texas
Published by Brad Hermes on May 25th 2012 | Real Estate
Houston real estate market is reaching great heights in the United States. As the demand of housing ...
 
Hurry up to purchase your dream property in Aruba
Published by Sothebysrealty Aruba on March 16th 2012 | Real Estate
Due to an increase in the importance of Caribbean land, the real estate business in Aruba is the pro...
 
Letting agents can help find good property
Published by Matthew Watson on June 4th 2012 | Real Estate
The letting agents have a critical role to play with the rental property letting. For tenants they c...
 
Know about property management in Marlow
Published by Ricky Charles on January 4th 2012 | Real Estate
In most parts of the world, property rates are going up and people who have invested in property are...
 
The contribution of property management companies of Dallas
Published by Nishaidhijames on August 10th 2012 | Real Estate
A city which is located on an area of 343 square miles with about 1,299,543 of population and also t...
 
Get the best value of your property with Folsom Property management
Published by Nishaidhijames on August 23rd 2012 | Real Estate
Sale and purchase of property is an important part of man’s life. A person always tries to buy a h...
 
Rules when renting a property in Malaysia
Published by Jeevan Nanthan on June 10th 2012 | Real Estate
This document describes all the terms and conditions about the contract in detail. In case of violat...
 
Tips on running a commercial property management firm
Published by Carolmoore on March 1st 2012 | Real Estate
Owning property can make you set for life. Considering the high prices of land, owning a piece can b...
 
Seeing the Huge Benefits in purchasing property in Greater Noida
Published by Sanjay Kumar on August 9th 2012 | Real Estate
The investment within the property will never move into vain as a result of the property rates withi...
 
Things to consider before property foreclosure
Published by Matthew Watson on July 5th 2012 | Real Estate
When you are to mortgage your property there are certain things that you can do to enhance the overa...
 
The demand of property in Delhi NCR
Published by Maaya on May 24th 2012 | Real Estate
Having an own land or property in Delhi NCR is like a dream, the prices of properties are increasing...
 
Investment in Real Estate property in Gurgaon
Published by Pioneer Urban on June 18th 2012 | Real Estate
Real Estate these days has become one of the most dynamic areas of investing and buying. The real es...
 
What a property Valuation Report Shows Us
Published by Ariel Linford on April 18th 2012 | Real Estate
Property valuation report is the best and easiest way to get a perfect and accurate value of your pr...
 
London property management firms are becoming increasingly important
Published by John M. Alcorn on January 25th 2012 | Real Estate
With rents rising across London, the idea of becoming a landlord or adding to an existing property p...
 
Why you should rent a property for your family?
Published by Andy Wagon on February 15th 2012 | Real Estate
To determine which properties are good indeed quite difficult, especially when some properties are n...
 
The Roller Coaster Ride of Rental property Dubai
Published by Mark Castellino on December 1st 2011 | Real Estate
The best way to start up any business in Dubai is to find out the best location first then go for th...