View to South Bank from St Paul’s Walk, October 2011
Isn’t it too early to ask what’s in store for the year ahead? Estate agent Hamptons International is the first to predict on what is going to happen with London rents next year:
London is expected to see more growth, with a predicted 5% increase in prices and 3% in Prime London.
High rents in Central London will continue to push demand further out as renters are unable and/or unwilling to stretch budgets. This will support rental growth in areas of Inner London such as Islington, Ealing, Clapham and further out towards Wimbledon, Richmond, Esher and Guildford.
Lesley Cairns, Head of Lettings at Hamptons International, commented: “We are expecting the rental market boom to continue in Prime and Greater London, driven by a continued imbalance between supply and demand. For the first time ever, the private rented sector will house more people in the UK than the social rented sector, which will put continued pressure on prices.
“Rents are likely to continue to rise, although this rise will be moderated as tenants find ever-more creative ways to make life more affordable. We are already seeing increasing numbers of flat sharers and “outmigrators” looking for a similar quality of stock and location but prepared to move from Zone one to Zones two, three and four to find it. Both of these trends are likely to become more widespread throughout 2012.”
Hamptons International Announces its 2012 Property Market Forecasts
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