Flats to rent in London in high demand?
flats to rent in London and the rest of the UK look to be in high demand, with one expert claiming the best properties are snapped up swiftly.
Mark Gardner, director and founder of LettingZone, said while tenant levels are approximately the same when compared with 2009, supply has dropped.
He noted many people who rent flats have decided to stay where they are in the current economic climate and are instead waiting for house prices to fall further.
Mr Gardner said: "Good properties are letting very quickly and landlords can probably easily achieve another three to five per cent on the rent level of a year ago."
Residential letting stock is currently around 20 to 50 per cent lower than usual, he added, meaning the market is extremely "buoyant".
According to a recent article from Virgin news, the number of individuals who were late in making rent payments dropped to its lowest level since the company began compiling figures in 2008.
Posted by Andy Britten
Published 23rd August, 2010
© 2010 Estates IT Limited
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Those hoping to find flats to rent in London are being told the residential lettings market is currently "buoyant".