Central London lettings agents W A Ellis are concerned that the supply of suitable rental properties is drying up despite a full list of potential tenants. Reports in the press suggesting that the rental market is in good shape is not reflected in the Prime Central London market where prospective tenants are fighting for the few high quality properties coming available.
Partner Karen Carpmael said “The first half of the year has seen rents rising as demand grew for long term rentals. Over the same period the supply of suitable properties did not grow as fast and this imbalance has resulted in some spectacular lets and some impressive renewals.
“Our greatest frustration is finding top quality properties in any sector of the market, which goes to support the argument that it is well worth landlords investing in the quality and finish of their property, as this will be more than reflected in the rent received and the speed with which the property is let. In addition, we have several parties queuing for family houses for the September market.
The weather has been kind so far this year although the heat is starting to reflect the lettings market” says Karen. “It looks like we’re in for a long hot summer as supply evaporates and opportunities for many tenants often turn out to be mirages.
W. A. Ellis are Residential Property Experts based in central London with a wealth of experience in Sales, Lettings, Development & Investment, Valuation and Building Surveying. For further details please contact Karen Carpmael on 020 7306 1654 / 07767 606 004 or email kcarpmael@waellis.co.uk.
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