The rent on the real estate market in London has increased for the third month in a row

Rents for luxury properties in Central London rose 0.2% in March 2015. This is the third consecutive month of growth in rents. During the year the growth of rental rates reached 4 %. The last time a similar growth rate was observed in 2012, on the eve of the Olympic games 2012.

Rising rents in 2014 came against a background of the cooling of the market of purchase and sale of real estate. In 2015, this factor was added the factor of improvement of economic indicators, recovery of the employment market, in which companies have begun to hire more employees.

All indicators of market rent in London has improved – increased the number of zaregistrirovannykh prospective tenants, the number of new hits and increased income of owners of real estate from the lease of 2.9%.

Significantly increased the number of jobs in the financial sector of London – 17% in February compared to 2014. Analysts attribute this fact with the stabilization of oil prices and reduced fears of a Greek exit from the zone Euro .

However, the uncertainty of the outcome of the elections to Parliament in may 2015 inhibits not only the market sales, but the rental market in London.

Some property owners without risking to sell their property before the election, put it on the rental market. But at the same time, they refuse to sign a lease for 2 years, expecting good demand in the market sale in the end of the year, in the case of a positive outcome in the elections.

Meanwhile, demand in the rental market of Central London is increasing. With the beginning of the year to February 2015, the number of tenants increased by 37%. The number of new hits increased by 16%, the number of registered potential tenants, 18%. Monthly incomes are growing as property owners who rent out their homes.

® Alice Morgan G. 02.04.2015

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