London Property Rentals & Sales Update

There is a shortage of properties in the rental market, owners tempted by strong prices have sold their investments. This is especially true at the very top end of the market.



Only six months ago agents were talking about sales prices starting at £1000 per square foot, now agents say “asking in the region of £2000 per square foot” and with such acceptance!



The sales market will slow down, however it may be temporary. Once children are back in school the buyers will be back and soon to follow the city bonus will have an impact.



The strong sales market has resulted in a shortage of supply; landlords of properties in excess of £3000 per week are holding out for their asking prices and in many cases getting them. Usually with a number of parties interested.



These highly fueled sales prices have resulted in the lowest rental yields of recent times. If interest rates keep rising, rents will follow.



As rates go up less people buy and more people rent hence prices will go up.