Landlords and tenants need to be more realistic in Central London

Tenants in Notting Hill and Kensington are wising up to the new realities of the market for rental property in London from £500 to £2000 per week.

Increased supply, much of it from the sales market, means that they are trying to put the squeeze on landlords. Our Notting Hill lettings team reports that tenants are taking longer and longer to make up their minds, viewing multiple properties, perhaps over weeks. When they do make offers they are often quite low and come with a list of unrealistic conditions. Landlords are generally dismissing these offers out of hand - Leaving alot of tenants looking for property to rent in Kensington, Notting Hill and Central London, as well as alot of stock for them to see.

The result? Frustrated tenants, frustrated landlords and unusually slow turnover of new property.

With the imminent arrival of wealthy overseas students looking for accomodations we expect to see more turnover. For the time being, at least, tenants need to lower unrealisticexpectations every bit as much as landlords!