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Rental properties in London are highly desired

The property market in Lambeth, Islington, Kensington and Chelsea and the rest of London is one of the strongest in the world, with interest from both home and overseas driving demand to new heights.

Rental properties are getting snapped up particularly quickly with houses now spending less time on the market before being occupied. Supply is struggling to keep up with the demand, leading to huge competition and driving monthly prices up. Rents are reported to be up by 9% year on year in comparison to 2013.

Perhaps the most compelling figure is that new tenancies are up by 28% compared with last year, showing just how quickly the market is moving. Estimates suggest that ten tenants are now chasing every single property. This goes a long way to explaining why landlords and investors can find such incredible returns.

New developments always have some level of risk because it is difficult to gauge demand, but in London you can have confidence that finished homes won’t be empty for very long. As we are the London property experts with services including property investment advice, guaranteed rent and block management in Lambeth and all other areas of London, we can help you to ensure that your investments are profitable and successful.

Tenants looking to find a property are being forced to look beyond their target areas and make compromises. This is very good for Greater London as a whole because it means development spreads and areas can enjoy new growth. Proposed developments in transport links are also having a big impact by making it even easier for people to commute and get around.

When looking for a rental property tenants need to keep a close eye on the market and act quickly when they find something that meets their needs. Letting your interest be known early is essential because you can be confident that every property you view will be getting seen by an additional nine or more people. Signing up to property websites to get alerts as properties become available is a good idea and you need to keep regular contact with agents to book viewings as soon as possible.

With demand set to continue conditions could become even more attractive for landlords and investors. Many experts are predicting continued price rises, perhaps before the end of the year. The changes in short term letting laws also offer great opportunities.