The typical rent of a prime Home Counties property rose by 1.2 per cent in the third quarter of this year, with a rise of no less than 24 per cent in terms of new tenancies.
The figures from Knight Frank show that quarterly rental growth for one and two-bedroom apartments was particularly strong at 4.8 per cent and 4.5 per cent respectively.
Flats and smaller family houses in the sub-£4,000 per month rental market accounted for 68 per cent of the agency’s activity in this region over the course of the quarter
“We’ve seen a continued surge of interest in the Home Counties lettings market, demonstrated by the remarkable rise in demand compared to last year” explains Jemma Scott, a partner at Knight Frank.
"Renting is now the go-to approach for families moving out of London as it gives them the ability to make sure they are settled before committing to the considerable costs associated with buying a property. That being said, the high volume of one and two bedroom flats that are being snapped up shows that younger couples and smaller families are also being attracted by the lifestyle that the Home Counties has to offer.”