Residential Lettings Market Update – Autumn 2021

 

With the summer coming to an end and autumn upon us, the lettings market is keeping the heat.

The property market has changed drastically over the last 18 months, with residents’ preferences led by the lure of green space. The requests for locations close to parks and commons has grown by 30% since before the pandemic.

The race for open space continues as three beds, and above are in high demand, specifically those with room for flexible home working, which has seen the rental value of larger homes rise by 6% in the last year.

Renting within prime central London has also come back into fashion, with office workers migrating back into the City, opting for the option to walk to work. During the third quarter of 2021, a sharp increase in rental prices took place, as the market rose by 3.6 %.

Daniel Watney’s properties located in areas in and around central London have been in high demand, receiving nearly triple the enquiries for available property. From the time the property is marketed to the time it is let, we have averaged six days, achieving increased rents during September.

If you have any properties which need letting, please do get in touch.

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