Brighter Prospect for Residential Rents

LONDON-UK residential rents are set to recover. That’s the conclusion of research by estate agent Hamptons International.

Hamptons lettings director Amos Barber says: ‘We remain optimistic about the market in 2003, although we’re holding our breath to see what happens in the run up to spring. We anticipate prices will continue to recover and perhaps even start to rise during the usual spring rush, as more and more applicants fight to secure a diminishing supply of good quality property.’

Barber believes however that the lettings picture for 2003 in London is still confused. If the sales market slows then more property will appear for letting, which in turn will hold rents at their present levels or even lower. In any event we expect to see those more flexible, tenant focused landlords continuing to achieve quicker lets with better rents.