In the rental market of real estate demand exceeds supply

In the rental market of Prime London property demand exceeds supply and prices of rental apartments with one and two bedrooms grew by 1.4% over the past three months.

A similar increase in demand and price growth in the amount of 1.3 % is observed in the suburban market of rent of elite habitation. However, the gap in rental prices between Central London and the suburbs are still very significant. Average rental price for one square foot of luxury homes in the country – less than half the average price in London. These are the data published by the company of real estate Savills.

Main growth of prices for luxury housing experienced Central London, North of the British capital and the East. However, the social group of tenants in these areas are different.

During this period, traditionally increases the demand for rental residential properties in Central London, where the number of world-class universities from foreign students. Areas of Islington and Canary Wharf are traditionally in high demand among young professionals and young couples who prefer a good access to financial centers and new high-tech industrial centers, which are concentrated in the East of the capital.

Thus, the younger generation is the locomotive of the luxury market. Young people prefer to pay for comfort and convenience. Therefore, the winners now are those landlords that were able to adapt to the needs of the discerning young customers. In the East capital the largest proportion of tenants of elite housing accounts for young people under the age of 29.

Generation from 30 to 60 years prefer areas of Hampstead and St. John’s Wood in North – West London and Fulham and Richmond in the South-West of the capital. And although the rent in these places is almost not increased since last year, these areas will always remain attractive from the point of view of a ratio price/quality. The average price of rent of one square foot in these areas is 29 pounds , which is much lower than the rental of luxury residential property in other parts of London.

In other cities of England, the greatest demand of the city – the universities with good access to London. Thus, the average rents in cities such as Cambridge, Farnham and Winchester increased by 2. 5 %. The greatest demand is for houses and apartments with three bedrooms, regardless of their location. The price for the rental of residential property with three bedrooms in the cities universities at 3 % above their pre-crisis peaks, which suggests that these cities have chosen families who prefer to live in cities the study of their children and near London.

However, over the past three months significantly increased the demand for apartments with one and two bedrooms in England. The number of tenants who are unable to purchase their own housing due to rapid price growth. In addition, significantly increased the influx of young professionals into cities outside of London, in which a noticeable improvement of the economy.

® Helen Antre 11.10. 2014

BROMPTON ROAD, KNIGHTSBRIDGE SW3 – £ 5,950,000

HENRY MOORE COURT, MANRESA ROAD, SW3 £ 12,000,000

KENSINGTON SQUARE, KENSINGTON W8 – £ 7,000,000

KNIGHTSBRIDGE SW1X – £19.5 million

MONTPELIER SQUARE, KNIGHTSBRIDGE SW7 – £13.3 million

PARKSIDE, 28-56 KNIGHTSBRIDGE SW1X – £ 6,995,000

QUEENSBERRY PLACE – £ 12.5 million

SLOANE STREET, KNIGHTSBRIDGE SW1X – £ 12,950,000

TREVOR STREET, KNIGHTSBRIDGE SW7 £ 7,950,000

Mansion on Mayfair £ 32,999,950

Luxury apartment – Hyde Park – £65 million

More than 120% in two years have earned our customers