Tenants 'snapping up good deals fast'
Tenants looking for rental property in London are quickly snapping up the best deals, it has been stated.
Estate agency Cluttons has commented that demand for rental property across the capital has been rising, with recent falls in rents allowing potential tenants the chance to snap up good deals.
The agency has been recruiting extra staff to deal with demand and according to its divisional head of residential agency Richard Cotton, the trend of more good deals becoming available will lead to a further increase in demand.
He stated: "The London lettings market is offering excellent value for money and although there are still plenty of tenants making silly offers, demand for rental property remains high and tenants are quick to snap up good deals."
A survey of Cluttons agents found that 91 per cent expect demand to rise over the next 12 months.
The most recent survey of the Association of Residential Lettings Agents found that the supply situation for rental property in London has been better recently than in the country as a whole.
It noted that 41 per cent of agents were experiencing a level of demand that outstripped supply, compared with 64 per cent Nationwide.
Published 17th September, 2008
© 2008 Estates IT Limited
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Tenants looking for rental property in London are quickly snapping up the best deals, it has been stated.