020 7223 3837
108 Streatham High Road, London, SW16 1BW
020 7223 3837
108 Streatham High Road, London, SW16 1BW
estate agents
020 7223 3837
108 Streatham High Road, London, SW16 1BW

At Holmes Estate Agents, we know people need information to make smart decisions. There are so many options to consider in the London housing market, and we know it is difficult to stay up to date with everything.

This is why we are keen to keep you as informed as we can. We speak with local landlords and tenants regularly. We also stay in touch with what is happening in the national market. If you need any guidance on what to do next, please get in touch, and we will be more than happy to help.

Recent analysis indicates demand for rental property in the capital is on the rise:

  • There has been a 19% increase in the demand for rental property across London

  • The supply of rental property in London has fallen by 42% compared to July of 2020

  • There has been a drop of 63% in rent reductions compared to the July 2020 figures

Some areas of London have experienced rent increases

  • Areas where there have been rent increases in London include:

  • Hyde Park, with a rise of 31%

  • St John’s Wood, which has experienced an increase of 27%

  • Fulham, where there has been an increase of 21%

There has been a fall in tenants withdrawing from rental agreements

  • 22% fewer tenants withdrew from their planned rental agreement when comparing July 2021 to July 2020

  • There was a rise of 16% for tenants moving into their new home for this time-period

Richard Davies, a prominent figure in the UK lettings sector, said; “Whilst there were deals to be had during the height of the pandemic and the first quarter of this year, tenants are now entering a much more competitive market. Since the easing of lockdown restrictions, we have been witnessing an evident surge in tenant enquiries across London. This has resulted in the number of available properties dropping to pre-pandemic levels, which will inevitably lead to an increase in rents. Tenants who are eager to still find more property for their money, may wish to consider the locations of Canary Wharf, Kentish Town, Bermondsey and Pimlico where rents are still comparably low.”

A similar study reinforces the mood that things are on the up in the London housing market:

  • In January of 2020, the average rent in the capital was £1,627 per month

  • By December of 2020, the average rent in London dropped to £1,556 per month

  • In July 2021, London rental values rose by 2.4% in the previous month and are 5.7% higher than the December 2020 figures

  • In the last quarter of 2019, there were 47,000 rental properties were available in London

  • In the third quarter of 2020, the supply of rental properties rose to more than 100,000

  • More recently, the supply of rental property in the capital has dropped to 64,206

Marc von Grundherr, commented: “It’s been a very tough year or so for the London rental market which has arguably been the worst hit in terms of dwindling demand and plummeting rental values. That said, we can finally say with confidence that we’ve seen the bottom and a number of factors are now spurring a market-wide recovery. We saw virtually no demand from overseas students last year which meant this stock further flooded a market that was already saturated due to a lack of interest from working professionals.”

Marc von Grundherr concluded by saying; “Although widespread lockdown restrictions remained in place during the start of this year, the reversal of the working from home trend and the return of foreign student demand, in particular, are currently driving a London rental resurgence during the second and third quarters.”

We have considerable experience and expertise in the South West of London. We are ideally placed to help vendors, tenants and landlords during this challenging time. If you have any questions regarding the South West London property market, please get in touch with Holmes Estate Agents today.

020 7223 3837
108 Streatham High Road, London, SW16 1BW
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