Based on some completely new research, the rentals market in London has a rising demand that has resulted in many properties getting purchased in record times.
Results by a London lettings agency show that rental houses are now being let in of average 12.7 days which is a decrease from 13.5 days at this time in 2010.
The survey learned that in a few areas of the country, properties are coming onto the market and are getting let within hours. This suggests that the competition for leasing agents in london for renting tenants is intense and that the scramble for properties in the Capital by potential investors is mind-boggling.
Further results showed that 5 tenants are competing for every single house that is the same as the second quarter in 2011 yet this particular figure has risen to 7.3 tenants for almost every home, in the West Midlands area.
These findings echo the Bank of England’s most recent Trends in Lending report which reveal that there’s a increase in buy-to-let mortgages, as people and overseas property investors look for refuge in the London property market.
www.brlets.co.uk can confirm that London is continuing to get big numbers of property buyers thanks to its good reputation for strong rental demand, political stability and capital growth. The strong demand for rental properties has extended well in to the autumn months therefore it’s vital for property investors to choose the correct lettings agent. And with over 285,000 international students studying in London and boosting the private rental market, landlords could cash in fast.
