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Overview of the West End Lettings Market

Friday, 18th May 2012

Categories: Lettings

Author: Peter Barry

Quality beats quantity in the lettings market

Quality not quantity goes the saying- and this is certainly true of the current central London lettings market. Despite the current economic uncertainty, the pace of this market in London continues constantly with no drop in prices.

The lettings manager of central London estate agents LDG, Javier Carrillo commented: “Rental prices have remained steady since their peak in summer 2011.  Currently there is a demand for one and two bedroom flats in the £400pw - £600pw price range – and these tend to take around one week to let”

Quality is always needed

There is also a strong demand by tenants for ‘New and newly refurbished properties’- which exemplifies the need for high quality properties in the area as there is a substantial shortage of high end residential property to satisfy this demand according to Javier. Anyone considering letting in central London should bear this demand for well maintained property in mind.

Ready to rent

Over the last three months, LDG have seen fewer applicants but a greater number of ‘high quality’ customers looking to rent – ie. people who have all the necessary paper work or references prepared in advance and who always offer the asking price. Rental customers like this are helping the lettings market maintain constant momentum, seeking out the high quality properties that there will always be demand for.

Companies increase demand

Compared to the end of last year, there has been a rise in UK nationals and European nationals coming to the capital to work, in addition to tenants coming from the media and construction industries as well as mid-management. LDG have also noted a 25% increase in company lets. This increase proves that despite uncertainty in the air, London remains a thriving commercial hub which business men and women will always gravitate towards.

This is a guest post by our friends at LDG. For more insights and to see a great range of the properties for let now available in the West End go to http://www.ldg.co.uk/residential-lettings