The demand for renting in London continues to grow

Real estate Agency in the UK reports that in October a couple of tenants complained about rising rents .

The report submitted by the Association of Agencies for Rental Property in the UK indicates that the decline in demand in October was reflected in the decrease in rental rates.

Basically rents either remained the same or declined. Generally, after a stormy September, October is usually a pretty quiet month on the rental market residential real estate . 2015 is no exception. The demand has decreased, and new delivery, which was on the market, has significantly reduced the pressure on the market. As a result, the demand was at the lowest level – the number of new potential tenants in one office real estate is 33 and has fallen to an annual minimum.

As always distinguished London. If in September, London had 39 registered potential tenants in one office, in October – 42, which is 8% larger. Thus London has demonstrated the opposite of the General trend.

The number of available rental offers in London has also decreased from 182 to one office in September and 173 in October. In the East of England the situation is improving. The number of properties listed for rent has increased from 184 in September to 199 in October.

Looking ahead, the demand for rental property in England should be satisfied with the supply of new housing. After the new government, solemnly assured their constituents that will be built in England 1 million new apartments and houses by 2020. Now in the real estate market of England, there is disappointment among homeowners, caused by the announced changes in taxation. Another negative factor may be the rate increase by the Bank of England, which will also scare away potential investors who wish to build up your portfolio. Only a balanced state policy can ensure stability, peace and growth of the UK property market.

® Helen Entree. G. 24.11.2015

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