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...
 
Online networking and property selling
Published by Matthew Watson on May 21st 2012 | Real Estate
There are many e-portals, which provide details on properties for sale. Anyone who wishes to put his...
 
Mohali property offering plethora of investment options
Published by Deepti on April 12th 2012 | Real Estate
Mohali, often termed as the Eco town of Punjab, is emerging as the favorite place for property in...
 
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 ...
 
Strata property investment advantages
Published by Chris Whelan on December 27th 2011 | Real Estate
In almost every country strata management property investment is getting more popularity due to its ...
 
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 ...
 
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...
 
Rental property- its difficult to find without estate agents
Published by Matthew Watson on April 16th 2012 | Real Estate
A proper research of the property market, its trends and different rents in different localities nee...
 
Buy your strata management property
Published by Chris Whelan on November 28th 2011 | Real Estate
Buying strata management property will save your each month rent, which become costlier day by day. ...
 
Buy residential property on rent
Published by Vicky Martin on June 18th 2012 | Real Estate
Never neglect tenant issues that are brought to your attention. This leads to dissatisfaction, late ...
 
How to choose a good property in Bangalore
Published by Andy Wagon on February 15th 2012 | Real Estate
If you currently want a property and were looking for, then there are many references that can be us...
 
When you’re spending it large for property it’s advisable to ease up the conveyancing process
Published by Himton Thomas on February 12th 2012 | Real Estate
If you are looking for a cheap and good conveyancing, you need to keep a few things in your mind....
 
Online estate agents to sell your property
Published by Matthew Watson on April 29th 2012 | Real Estate
Using an online estate agency will allow property owners to perform the majority of the sales proces...
 
How to find your perfect property
Published by Ramikenig on December 7th 2011 | Real Estate
With the Dubai property market experiencing a spike in sales prices over the last 3 months it is onc...
 
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...
 
Bookings of residential property in Gr Noida is back on track
Published by Sanjay Kumar on July 20th 2012 | Real Estate
Apartment bookings in Greater Noida close to Delhi have resumed once authorities recently approved a...
 
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...
 
Guarantee continuous income with sensible property investments
Published by Sophia Milller on December 13th 2011 | Real Estate
There are so many places where you can invest your money. Buying assets is the best thing to do when...
 
Lease your property for commercial strata management
Published by Chris Whelan on January 25th 2012 | Real Estate
Everyone should follow some qualified process during leasing their commercial strata management prop...