London letting agents see rents rise
News Category: Industry News
Published: 14-Apr-2010
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Letting agents in London have seen an increase in the amount of rent received over the first three months of 2010.
According to new statistics released by property consultant Cluttons, rents in prime locations in the centre of the capital have risen by an average of 3.1 per cent so far this year.
The research found that five-bedroom houses saw the largest increase, with rents shooting up by seven per cent during the first quarter of 2010.
Amelia Greene, partner for residential lettings at Cluttons, cited families' inability to afford to buy their own home as a reason why letting agents are seeing an increase in the rents for these properties.
"It is also being driven by those renovating their own properties and those who are waiting to buy until the impact of the general election is clear," she commented.
This comes after a recent buy-to-let index from LSL Property Services found that letting agents saw an increase of 0.3 per cent in the average rent received during February.
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