PR Fire | Accommodation >> Rents increase by over 7% in London during the last year

PR Fire | Accommodation >> Rents increase by over 7% in London during the last year

Property owners are seeing significant increases in rental prices in London, as demand for rental properties continued to grow in the city.

Many first time buyers are unable to get on the property market due to difficulties getting a mortgage which has led to more demand for lettings London wide. Constraints on lending have also meant that many landlords are unable to increase their portfolios and put more rental properties on the market.

Rental prices in London increased by 0.3% in February and 7.7% in the last 12 months due to the unprecedented demand.

Letting agents London wide are seeing demand outstrip supply in prime locations across the capital, pushing up rental prices. These levels of demand are expected to last well into 2012, meaning good news for landlords and investors.

Landlords looking to rent out their property should look no further than London letting agents Benham and Reeves. With over 30 years experience in the rental market, you know that your property will be taken care of, with everything from collecting rent to assisting with any issues dealt with professionally and efficiently.