Rental growth in London has surpassed the rest of the country for the second month running.
Countrywide have released data that suggests the lettings market is on the turn, with London’s rental growth now the strongest in Britain. So, is the market on the turn?
The rent of rental growth across the United Kingdom has remained the same in January 2018 when compared with December 2017. This has therefore stabilised rents in central London and when combined with rises everywhere else in the capital, Greater London’s rental growth has risen to it’s highest level in 22 months.
Countrywide’s findings say that in the UK the average costs of letting a property rose by 2.4 per cent from last year. However, whilst rental growth has accelerated in the capital, growth seems to have slowed in the South East, South West and Scotland, with the north East being the only region to see rent falls in the last month.
Charlie Saunders, Managing Director of Assist Inventories, has commented,
“Could the tenant fees ban be a blessing in disguise? Here at Assist Inventories we think it could. Letting agents will need recoup costs from the unavoidable ban and letting fees are the main source to do this. However, with fewer up-front fees for tenants to pay we can expect to see tenants moving much more frequently, and this will ultimately provide a much need boost to the lettings market.”
Letting in London
With the market on the turn, it’s important to ensure your property portfolio is protected.
Set the standard to which your property should be maintained and returned at the end of the tenancy with a comprehensive, detailed inventory report.
Here at Assist Inventories we offer property inventory services for landlords and agents who require the security of a robust property inventory report but lack the time to carry them out themselves.
Talk to us about how we can assist with your inventory reports leaving you free to ensure you are investing wisely and maintaining your portfolio.