Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

High demand for rental accommodation in North West London

By John M. Alcorn Subscribe to RSS | January 25th 2012 | Views:

Is there another rental boom brewing in London? Historically in the capital, rents demonstrate a distinct spatial pattern over time, rising initially in a cyclical upswing in prime central London, then wider London, starting with the outskirts of central London, before spreading out across the rest of the country. This is known as the ripple effect.

A glance at the market in London suggests that a mini boom is occurring. The latest HomeLet Rental Index reveals that average rents in London have increased by 13 per cent over the past year, led by growth in prime central London and its outskirts, most notably in St John's Wood and Primrose Hill.

A shortage of flats to rent in Primrose Hill in relation to demand has pushed property prices in the area significantly higher over the past year.

Primrose Hill, located on the north side of Regent's Park in North West London, is home to one of the most famous parks in Britain. The top of the hill in Primrose Hill offers a clear view of central London to the south east. It is one of the most exclusive and expensive residential areas in London.

"There is always strong demand for property within easy reach of London's parks," said Spencer Botchin, director at leading London-based estate agents Sandfords.

Nearby St John's Wood, located a short distance from London's West End, is another area proving extremely popular with tenants.

Strong demand for flats to rent in St John's Wood as well as houses to rent in St John's Wood has caused local rental values to soar in recent months, with prices expected to increase further over the next few months.

Adam Feather of Robert Anthony estate agents said: "St John's Wood is without doubt one of the most desirable places to live in London. Top bids are often required to secure the best homes to rent in the area, due to a real shortage of homes, which should force rental prices higher in the coming months."

The prospect of higher rental values is an attractive one for existing landlords.

Despite the fact that rents in London have soared in the past 12 months, thanks mainly to rising demand from young people who in the past would have been first-time buyers, rents are expected to increase even more in 2012.

Jones Lang LaSalle, a property consultancy, says typical UK rents will increase by another five per cent on average in 2012, led by growth in London.

London will see the biggest lettings boom. Jones Lang LaSalle projects that the capital's rents will rise by another seven per cent in 2012.

Jon Neale, research director at Jones Lang LaSalle, told the press: "London's employment market remains intense and there's still strong population movement into the capital. But the stock of rented property has hardly increased over the past few years.

Mr. Neale predicts that there will be 150,000 more London households renting than before the financial crisis. He also expects there to be more private tenants in London than people with mortgages by 2015, with areas such as Primrose Hill and St John's Wood expected to continue to command the greatest demand amongst tenants.

John M. Alcorn - About Author:
John Alcorn reports that demand for flats to rent in St Johns Wood and houses to rent in St Johns Wood is soaring, while more people are also looking for flats to rent in Primrose Hill.

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

Article Source:

Related Real Estate Articles Subscribe to RSS

Explore wide arrays of options when renting flats
Published by Abhay Singh on January 24th 2012 | Real Estate
Moving from one city to another has almost become frequent part of our life style. Our job life is s...
Look for the flats and apartments for rent in Ahmedabad
Published by Simmie on November 28th 2011 | Real Estate
Ahmedabad is the city which is usually recognized as the city of individuals and this is one of the ...
Sell a house and rent it back
Published by Vicky Martin on April 25th 2012 | Real Estate
While the simple action of sell house rent back is straight forward there are some implications that...
Find a flat to rent
Published by Matthew Watson on June 19th 2012 | Real Estate
Flats are the convenient and cost effective accommodation that a person can find. Flats can assure a...
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...
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 ...
Get authentic and congeries free company for Rent flats or houses
Published by Abhay Singh on January 27th 2012 | Real Estate
Finding a flat is not that easy especially when you are new to the city. We have to move from one pl...
Apartment for rent in Delhi Best Accommodation
Published by Simmie on November 28th 2011 | Real Estate
In Delhi the property prices have reached to its maxima but still the demand is constantly rising. B...
Finding properties to sale or rent in Chessington
Published by Glyn Jones on January 21st 2012 | Real Estate
An reliable and reputable estate agents makes it quite easy to find the respective properties for sa...
Flats for rent are available in Pune with affordable price
Published by Andy Wagon on January 17th 2012 | Real Estate
Pune is a most famous city regarding the industrial areas is being concerned. The maximum area is be...
Simplify the task of renting flats in the city Kolkata
Published by Abhay Singh on January 12th 2012 | Real Estate
By gone are the days when, Kolkata was considered only as a place of intellectual capital. Today it ...
What should you know about the rent component in an assured shorthold tenancy agreement?
Published by Randall on February 27th 2012 | Real Estate
When you sign an assured shorthold tenancy agreement, you should know that the landlord is actually ...
Get suitable flats with flats renting companies of Kolkata
Published by Abhay Singh on January 16th 2012 | Real Estate
Moving to new cities is the attire requisite for those are always chasing for better carrier and lif...
Tips before choosing houses to rent
Published by Vicky Martin on April 11th 2012 | Real Estate
When you are looking for flats or houses or other rental properties there are few things that you ar...
Demand for Property to rent in London Continues to Soar
Published by John M. Alcorn on June 8th 2012 | Real Estate
Now is a generally good time to be a landlord in London. Tenant demand is rising at a rapid pace whi...
Dunaway must pay up outstanding rent in landlord dispute
Published by Ashoka Lion on July 16th 2012 | Real Estate
Veteran actress FAYE DUNAWAY has been ordered to bring her rent payments up to date as she continues...
Get the desired for all ranges flats in Kolkata
Published by Abhay Singh on January 9th 2012 | Real Estate
Moving from one part of the country to another or city has almost become frequent event. By gone are...
Residential flats in Pune
Published by Mantri on June 13th 2012 | Real Estate
This article discusses the real estate industry in Pune. It concentrates on cities and townships. It...
Find a house or flat to rent with estate agent.
Published by Glyn Jones on July 4th 2012 | Real Estate
When you are looking for flats or houses for rent or for sale, you can simply go with the estate age...
How you can buy residential property on rent
Published by Glyn Jones on June 11th 2012 | Real Estate
Apartment buildings are more complex. Often, people are already living in the suites, and it simply ...