Stories of central London's rental market racing away appeared 10-a-penny until recently but one lettings agency says supply now exceeds demand.
Lucy Morton, head of lettings at W A Ellis, says that while enquiry levels from tenants are up on late 2013 levels, supply is up even more thanks to a six per cent increase in the number of homes available to let.
As a result, landlords should make greater efforts to modernise, decorate and present properties to the highest standards.
Presentation remains extremely important in order to achieve a successful let. An unfurnished flat we put on the market at the end of 2013 didn't receive much interest. In the absence of a tenant, the flat was then furnished and dressed, and an asking price offer was agreed within one week, with two back-up offers, reinforcing the message that presentation is key' says Morton.
However, she believes demand will rise from next month because of an increase in expat tenants coming to work in the City thanks to growth in the financial services sector.
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