Buy To Let Views - City Wire

An interesting article on City Wire appeared from a landlord of a flat to let in Notting Hill on City Wire regarding those with a vested interest in the market talking it up for their own benefit.

In response.....

"Rents for smaller, more affordable flats are rising. First time buyers are either short on confidence or on laying their hands on 30% deposits in a more realistic lending climate.

There's alot more property coming on to the market so forecasts of across the board rent rises may be a tad optimistic - in Central London, at least.

Vendors are turning to the rental market at the same time as major City employers are reviewing headcounts of middle ranking employees. New recruitment, whilst at a very healthy level compared to a year ago, is in our experience over the last 8 weeks at least, focused on employees with more modest rental budgets"

We're surprised that a flat in Notting Hill should struggle to let at more than its 2000 figure; "In 2000 I was able to let my flat in Notting Hill, conveniently placed for the tubes, buses, late night shops and Portobello Road, for £1,500 a month. Today I would be lucky to get £1,300 – in spite of having spent £25,000 on a new kitchen, bathroom and wood floors. My neighbour upstairs has had a flat on the market for months without finding a tenant. The reason – an excess of supply over demand.". I sincerely hope this particular landlord is not a Chard client! We'd expect to see a substantial increse on 2000 values for our landlords looking for corporate and city tenants today.

All we can say is maybe it's time to talk to Chard London lettings about finding new tenants.....