London has returned to positive rental growth as the tenant demand picked pace, according to a latest study.
Simple LandLords Insurance, in its latest announcement, said London witnessed its first annual rent rise in June 2018. Quoting Landbay Rental Index, it said that London rents have bounced back, impacting the property market positively.
London is likely to maintain the rental growth trend for the rest of the year. This development comes as a relief to London landlords, especially those in prime London areas, which witnessed a slowdown in rental growth in the last one year.
Though the rental growth is modest, rents in London are still 2.5 times the rest of the UK. While average rent paid in London per calendar month is £1,884, the corresponding figure for the rest of the UK is £764.
From the long-term perspective, London, as rental market, offers good rental yields, as the tenant demand is consistent and growing. Though some boroughs are witnessing stagnation in rental growth, the market sentiments are positive.
Strawberry Star has a unique list of buy-to-let rental properties in London where rental growth is positive. If you are keen on acquiring a London property to let, connect with our estate agents for details.
The East Midlands and the East of England led the UK's rental growth in the first half of the year while London recorded its first annual rise since 2016