Rental Prices May Rise in Brook Green and Fulham
Typical of the flats and houses to let in London being snapped up early, this flat to let in Latymer Court, Hammersmith Road W6 was let yesterday by Chard's Brook Green lettings office. Asking price 550 per week.It looks like there's change in the air in the West London property market. Landlords in West London have become used to having to re-negotiate rents and often accept a lower figure than in 2007-8. That may be about to change.
As we approach the busiest time of year for the London lettings market, we're seeing less stock of property available to rent in Fulham and Brook Green, in particular. Partly this is due to a very succesful month with both offices letting over 40% more properties than one year ago - with more interest in mid value property to let especially, typically from 400-600 per week.
New graduates generally start work in September, at the same time as students return to London. This traditionally creates a wave of strong demand beginning in July and continuing into early October and exacerbated by that fact that most tenancy agreements are for a year, encouraging existing tenants to "trade up, down or sideways" on the anniversary of their original relocation to London.
Without more stock coming on to the market, many prospective tenants may find it more difficult and expensive to find a new home in London this year especially in the lower to mid price brackets under 700 per week.
Our advice to tenants right now is to find a home soon, and not delay your search until August.
Labels: London lettings market, Student lets








