Agencies across the capital are confirming the renters are back. After a bumpy 2 years of lockdowns and the well documented ‘exodus’ to the country, it seems Central London is back in favour.
Savills report Prime London rents are forecast to go up by 4.5% and mainstream London rents by 6.5% in 2022 (this relates to forecasts in the second hand market/not new build)
And the five year forecast is looking pretty attractive with a 22.2% increase over this time.
Which areas are seeing the biggest upturn in rents? Zoopla Rental Index quote +11.3% for Kensington & Chelsea and +8.3% for Islington respectively.
Key to sourcing the best rental investment is looking at what these renters are prioritising when sourcing their homes. Access to open green space (balcony/garden/squares/parks) and proximity to good transport links (particularly train/tube/overground) are key. Many are also looking for space that includes a working area to accommodate the trend towards a hybrid working from home & office arrangement.