Optimism is improving in the Prime Central London residential market with lettings activity reaching a 2-year high, says ‘Prime Central London’ report from real advisory firm JLL.
In the Prime Central London lettings market, transactions increased by 5 per cent between January-March 2017 when compared to the corresponding period in 2016. Interestingly, one and two bedroom apartments remain the most sought after property types with demand particularly strong for these units within new developments.
Demand at the upper-end of the market with rentals above £3,000 per week was strong in 2016 and it increased further during the first three months of 2017. JLL found out that many of the renters are using the lettings market as a temporary stop while waiting to buy their ideal property in the sales market.
“Higher levels of stamp duty have accelerated this trend with purchasers no longer happy to make multiple moves in the sales market, preferring to bide their time in the lettings market,” JLL observed.
Strawberry Star has several interesting properties for rent in Prime Central London. If you are interested in viewing any of these rental properties, contact our lettings agents by calling London offices.
One and two bedroom apartments remain the most sought after property types with demand particularly strong for these units within new developments.