Based on some completely new research, the hire market in London has a rising demand that has resulted in a lot of houses getting snapped up in record times.
Studies by a London lettings agency reveal 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 some areas of the country, properties are coming to the market and getting let within hours. This means that the competition for leasing agents in london for renting tenants is really intense and that the scramble for properties in the Capital by potential investors is overwhelming.
Further results showed that five tenants are competing for each and every house that is the same as the second quarter in 2011 however this particular figure has risen to 7.3 tenants for every house, in the West Midlands area.
These findings echo the Bank of England’s latest Trends in Lending report that reveal that there’s a surge in buy-to-let mortgages, as people and overseas property investors seek out refuge in the London property market.
www.brlets.co.uk can confirm that London is continuing to attract big numbers of property buyers thanks to its reputation for high rental demand, political stability and also capital growth. The strong demand for rental properties has extended well into the autumn months therefore it is essential for property investors to decide on the correct lettings agent. And with over 285,000 international university students studying in London and increasing the private rental market, landlords can easily cash in fast.
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