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94% surge in prime London tenancies claims agent

There has been a 94 per cent increase in prime central London tenancies year-on-year claims Lucy Morton of W A Ellis, the single office agency recently taken over by JLL. 

Morton says this surge is down to disappointed purchasers turning to the rental sector for a variety of reasons such as being unable to secure finance or find the right property. 

“Activity levels are now steady. However, there has been a noticeable increase in the level of rental stock available, mainly as a result of landlords awaiting the outcome of the general election and deciding now to let instead of sell their properties” says Morton. 

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“Higher stock levels have meant that competition between landlords has increased and properties that are in optimal condition are letting first. The market is highly price sensitive and a property correctly priced will attract multiple enquiries” she explains. 

“The student market is back in force this quarter; students made up the majority of lets in the one and two bedroom market over the last month as they secure flats before the summer break.”

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    I think the price rising is not so bad, after all their student loans are with low taxes

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