Rental demand at highest level since September 2017 as seasonal uptick increases number of prospective tenants
- 26th September 2018
- Buy-To-Let Property News
Number of tenants registering at ludlowthompson up 8% in a year with rent increases of 4% recorded
The number of potential tenants in London has reached its highest level of the year so far– indeed ludlowthompson saw 15,893 tenant applications between June and August.
The figures are partly reflective of the seasonal uptick in the number of people looking for rental accommodation but also of the fundamental strength of the buy-to-let market.
Summer is the time when graduates leave university and look to begin new jobs and post graduate courses. As home to numerous world-class universities and one of the strongest economies across Europe, London has strong pulling power for prospective renters from the UK, and globally. This stream of young people moving to London creates rising demand for high quality rental accommodation.
“There might be some uncertainty following Brexit over the impact of any deal on the UK economy, but London, at 91.5% of all jobs, boasts the highest proportion of the workforce in the services sector, such as the financial and administrative roles. Londoners record the highest average hours worked for all workers in the UK – So it’s no surprise that a new cohort of generation rent are flocking to London this September.”*
What this means is that buy-to-let property owners will continue to benefit from the high demand for property over the long term. Setting aside capital appreciation, buy-to-let remains an excellent way for investors to draw a regular income on their investment.
Stephen Ludlow, Chairman of ludlowthompson, comments: “The latest figures for London reinforce our view that the buy-to-let property market remains an excellent investment opportunity. It continues to outperform many other asset classes over the long term.”
“The last two decades have seen an endless stream of people re-locating to London to start or continue their careers, so there shouldn’t be a shortage of demand for these properties.”
Here is a selection of reviews of happy customers of ludlowthompson via Google Reviews:
"Daniel has been an absolute pleasure to work with, he has gone above and beyond to help us find the perfect flat. We were moving long distance and so this made flat searching rather difficult, cannot thank Daniel enough. Would definitely recommend ludlowthompson to anyone looking to live in Central London."
Lynsey on Google
“Excellent service if you are looking to buy. Particularly Martin; was refreshing to deal with an agent who understood my needs from the get-go. Highly recommend.”
Daria on Google
ludlowthompson maintains its transparency by encouraging customer reviews across a number of platforms . Over a three year period we are ranked as the number 1 agent in the UK on allAgents out of 15,000+ agents, with 5800+ 5* reviews, and we are linked with feefo, a global Google Partner giving the customer another place to search for independent reviews of the company and the individuals that work at ludlowthompson.
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