Lettings around London on the Rise; Study Unveils

Based on some new research, the hire market in London has got a rising demand that has triggered a lot of houses being snapped up in record times. 

 

Studies by a London lettings agency reveal that rental houses are being let for an average 12.7 days that is a drop from 13.5 days at the same time in 2010. 

 

The survey discovered that in a few places of the country, properties are coming onto the market and being let within a few hours hours. This suggests that the competition for leasing agents in london for leasing tenants is really intense and that the scramble for properties in the Capital by potential investors is overwhelming. 

 

More results showed that five tenants are competing for each house which is the same as the second quarter in 2011 yet this figure has risen to 7.3 tenants for every home, in the West Midlands region.

 

These findings echo the Bank of England’s most recent Trends in Lending report which reveal that there is a surge in buy-to-let mortgages, as people and overseas property investors look for refuge within the London property market. 

 

www.brlets.co.uk can verify that London is continuing to get huge numbers of property buyers due to its track record of strong rental demand, political stability and also capital growth. The strong demand for hire properties has extended well in to the autumn months therefore it is vital for property investors to find the correct lettings agent. And with well over 285,000 international university students studying in London and boosting the private rental market, landlords may cash in fast.