‘Tis The Time To Be A Tenant
Landlords and tenants have never gotten along better. With reasonable rent levels, we are much more confident about staying in the renter group. The ladder can wait.
As the unsold homes flood onto the lettings market, rents are plunging, writes The Observer:
Hamptons International agency reports that in some London areas - such as Knightsbridge and St John’s Wood - the amount of rental stock on its books has doubled compared with this time last year.
‘We are experiencing an oversupply, which means we have seen a definite reduction in rent, and it’s a huge surprise to landlords,’ says Emilie Dawes, lettings director for Marsh & Parsons. ‘We had a property off the King’s Road recently that was valued by another agency three months ago at £1,800 per week - it has just let for £995.
