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TODAY'S OTHER NEWS

High-end agency claims best ever month for lettings division

The sales market in London continues to wreak havoc with agencies, as yesterday’s Foxtons story revealed, but one lettings agency is reporting a very different picture for the rental sector.

Harrods Estates says its November lettings market performance was literally record-breaking - 500 per cent higher than the same month in 2018.

Sarah McIntyre, Harrods’ director of lettings, says: “We are seeing current tenants of our clients’ properties renew their contracts, often for long-term lets of up to three years - particularly at the super prime end of the market. 

“We have seen tenants prepared to pay up to £5900 per week for a three bedroom apartment in Prime Central London, in areas such as Mayfair, Knightsbridge and Belgravia with many clients from the Middle East and Russia keen to have a home here.”

She says that although many factors contribute to the current healthy rental market, London’s resilience as a world class city for business and families is a key element. 

“At a time when we have seen unprecedented Government uncertainty - under the cloud of Brexit and the General Election. Whatever the outcome of the General Election, it appears that faith in the capital remains and our long-term tenants are keen be at the heart of Prime Central London.”

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