Rises in rental prices across London

When you own a property that you let out it is important to have the right support. That way you can be sure you satisfy your obligations and don’t risk a fine. Finefair offers a reliable service to every client. As a result we are a lettings agent Bexley landlords rate very highly. With services like guaranteed rent and property management in our range, we can take care of everything.

Demand for rental homes in London continues to rise because of problems with supply. As a result of the competition prices are on the rise again. In August the average hit an astonishing £2,000 per month. This follows an above inflation increase of 3.4% per year.

The situation for renters in London looks even worse when you look outside the capital. In the rest of the UK the rise in rents was just 0.7%. The average price is a much more affordable £796.

What is the cause?

There are two main reasons why London is so tough on renters. Firstly is the fact that tax breaks have been cut so rental returns are lower. Therefore many landlords put their prices up to counteract the additional tax they pay.

The second cause is that it is now far more expensive to purchase a second home. While the Government is trying to encourage more people to buy their own homes, the higher stamp duty on second homes means fewer private individuals are tempted to invest. This results in less supply.

Bexley is the perfect destination

The south-east London Borough remains at the top of the list of most economic places to live in London, especially for groups. A four bedroom house here works out at around £408 per month per person, much more affordable than other parts of the capital. The area is largely suburban, enjoying plenty of open spaces. The only downside is slightly longer commutes and almost £240 a month in travel costs because this is Zone 6.

Finefair has seen the big rise in the number of investors considering outer Boroughs. We are increasingly offering services here as a result of the popularity. Luckily we can offer the same high quality we do in Central Boroughs. This makes us one of the best options for a lettings agent Bexley has.

If you have any queries for us please get in touch.