Hampstead rentals market out of the doldrums

5 Beds, let £1,100 per week

Above average early autumn enquiries have brought a much-needed boost to the Hampstead lettings market which has seen rents flatten in the last 12 months reports local agent Benham and Reeves Estate Agents.

“After a fairly busy summer we started September with a shortage of properties and high demand but thankfully, along came a flurry of instructions through our international offices and we’ve been doing brisk business across the spectrum” reports Mark Winship, Manager of the flagship branch in Heath Street.

2 Beds, let £490 per week

“We’ve just let a handful of 2 bedroom flats with rents ranging from £520 per week up to £690 per week. Properties that are pristine with fully modernised interiors and contemporary furnishings are letting quickest and outside space or parking still commands a premium as is reflected in the rental differences”

2 Beds, let £510 per week

“We’ve also seen a 27% increase in tenants taking longer (two year) leases – a good sign of job stability and confidence in the economy. With corporate budget cuts quite severely in 2016/2017, this had a huge impact on tenants’ finances and demand for larger Hampstead homes to rent tailed off quite significantly” adds Winship “but now rents have stabilised and a new swathe of tenants – from techpreneurs to wealthy city bankers – are discovering the Heath-side charm of Hampstead”. He adds a caution though “landlords hoping to secure a good tenant must be flexible about rent and not think we are totally out of the woods. It is not the time for rent increases just yet”.

3 Beds, let £650 per week
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About the Author

Established in 1958, Benham and Reeves is one of London’s oldest, independently owned property lettings and sales agents. With specialism in residential sales, corporate lettings and property management in prime areas of London, the company operates from sixteen prominently located branches and five international offices.

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