London buy to let landlords see rents rise as thin supply meets strong demand
Posted on 17 January 2011 by
Central London residential rents rose by 2.2 percent in the final quarter of 2010 according to the latest research by a leading estate agent.
This rise means that rents have risen by 16 percent over 2010 as a whole and by 19 percent since the low point they reached in mid 2009 when the market was suffering from significant oversupply.
Rents are now 5 percent below the peak level they hit in March 2008 before the impact of the credit crunch was fully reflected in the market.
Rents in the £1,500 per week segment saw a rise of 21 percent during 2010, whereas the £500 to £1,500 per week bracket rose by 12.3 percent over the same period.
The strongest areas in central London were Knightsbridge and Mayfair – each with annual rental growth in 2010 of above 20 percent.
Categories: Buy to let, Mortgages
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