Lettings around London on the Rise; Study Unveils

According to some brand new research, the hire market in London has a rising demand which has resulted in many properties getting snapped up in record times. 

 

Studies by a London lettings agency show that rental homes are being let in of average 12.7 days which is a decrease from 13.5 days at this time last year. 

 

The survey learned that in a few places of the country, properties are coming to the market and are being let within a few hours hours. This means that the competition for leasing agents in london for leasing tenants is really intense and that the scramble for properties in the Capital by budding investors is mind-boggling. 

 

Further results concluded that 5 tenants are competing for each home that is the same as the 2nd quarter in 2011 however this figure has risen to 7.3 tenants for every single home, in the West Midlands area.

 

These findings echo the Bank of England’s newest Trends in Lending report that 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 verify that London is continuing to draw in large amounts of property buyers due to its good reputation for strong rental demand, political stability and capital growth. The strong demand for leasing properties has extended well in to the autumn months therefore it is essential for property investors to find the correct lettings agent. And with over 285,000 international university students studying in London and improving the private rental market, landlords can cash in fast.