Flats to rent in London increasingly popular?
Those looking for flats to rent in London may be interested to learn that properties of this kind in the capital are becoming increasingly desirable and accessible, according to a team of Estate Agents.
Researchers at Knight Frank revealed that there are people looking to let a place in the city, with an increase of 17 per cent over the last two years.
Head of residential research Liam Bailey explained that the "slow but steady improvement in the Central London jobs market" means there are lots of prospective tenants who can afford to live in the city.
He added that there is very strong rental growth in the central west areas of Notting Hill, Chelsea and Knightsbridge.
One in five households in the city are occupied by renters and most of these live in Central London.
The company's offices in Chelsea and Fulham announced that 94 per cent of their current tenancies were renewed in June, compared with only 68 per cent a year ago.
Continuing a lease is "an easier option" than finding a new flat in such a competitive market, said head of lettings Liz Harrell.
Posted by Charles Mackay
Published 23rd July, 2010
© 2010 Estates IT Limited
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More people may be renewing tenancies on their London flats after one estate agent revealed that the rental market is getting more competitive.