This means that rents are edging up in some areas due to a shortage of supply.\u00a0 This is clearly good news for landlords<\/a> who did not see many gains in 2018, but the fact remains that the rental market generally is extremely competitive and accurately priced, impeccably presented properties will always be the first to let.\u00a0 Therefore, rents must be priced in line with local market conditions and this highlights the continued importance of getting good advice from your letting agent<\/a> \u2013 one who knows the area well and can offer expert advice in this complex and rapidly changing market.<\/p>\n We have waiting lists of fully referenced applicants looking for homes in some new London property developments<\/a>, so if your property is soon coming to market, we may be able to introduce you to a tenant quickly. Please contact<\/a> the Manager at your local Benham & Reeves branch for more information.<\/p>\n \u00a0<\/strong>Central London<\/strong><\/p>\n Rental demand is buoyant at our central London branches in Kensington, Knightsbridge<\/strong> and Hyde<\/strong> Park<\/strong>, at this usually quiet time of year.\u00a0 Enquiries from applicants have been picking up quickly since and this is the busiest start to the year we have had for some time.\u00a0\u00a0 Demand for properties during the run-up to Christmas was also stronger than usual.\u00a0 This sustained demand has led to some shortages of stock, particularly smaller apartments, and we are currently taking on new instructions to ensure good availability for applicants.\u00a0 The rental market in central London<\/a> remains very price sensitive though.\u00a0 Applicants are extremely knowledgeable about market conditions so rents must be competitive, in line with local market conditions.\u00a0 Continuity of rental income is the priority for most landlords who will usually prefer to retain an existing tenant to minimise voids<\/a> whenever possible, even if this means keeping the rent at the same level.<\/p>\n Our Nine Elms<\/strong> branch is also continuing to see high demand with enquiry levels increasing noticeably as soon as the branch opened after the holiday break.\u00a0 With apartments letting almost immediately here, stocks were so low that we only had two properties available and we continue to urgently seek new instructions.<\/p>\n The City and East London<\/strong><\/p>\n Our five City and East London branches<\/a> are seeing good demand from tenants and this followed a busier than expected pre-Christmas period too. Enquiry levels are continuing to increase, with applicant numbers up noticeably on the same period last year.\u00a0 We\u2019ve been actively reaching out to our corporate HR clients promoting our stock and with properties letting well we are currently working to replenish stocks to ensure we sustain availability.<\/p>\n Several new property schemes are launching over the next few months in East London and we are taking on new instructions in these. Our City<\/strong> branch will be handling lettings at London Square Caledonian Road in Islington, north of Kings Cross station, which will be completing soon and rental apartments here will be keenly priced \u2013 at upwards of \u00a3425 per week for a one bed and \u00a3550+ for a two bed.\u00a0 \u00a0Also completing soon are apartments at Sugar Quay in EC3 where a one bed should achieve \u00a3600+ per week while later on in the year, at Principal Tower in EC2 near Liverpool Street, luxury, high-end apartments will overlook the City itself \u2013 rents here will start at \u00a3675 per week for a one bed apartment.\u00a0 Nearby, our London Dock\/Wapping<\/strong> branch is receiving enquiries about the latest phase of Goodman Fields \u2013 Perilla Tower \u2013 where studios are achieving upwards of \u00a3500 per week and \u00a3575 per week for a one bed.\u00a0 Our Canary Wharf<\/strong> branch is handling lettings at the new<\/p>\n Upton Gardens development, located on the former ground of West Ham football club.\u00a0 Asking rents will start at an affordable \u00a3285 per week for a one bed apartment.\u00a0 And we are currently carrying out viewings at the Liberty Building in E14 \u2013 the response so far is very good and one beds are achieving upwards of \u00a3400 per week.\u00a0 \u00a0Two new towers will be completing in the next few months at Kidbrooke Village in South East London and another new phase is launching at Royal Arsenal Riverside in Woolwich \u2013 these will be handled by our Greenwich<\/strong> and Surrey Quays<\/strong> branches.<\/p>\n North London<\/strong><\/p>\n Rental demand in Highgate<\/strong> and Hampstead<\/a><\/strong> is growing, with applicants looking for a new property from early February and we\u2019ve seen more activity in the market than usual for this time of year.\u00a0 This follows a prolonged shortage of stock of some types of property and are now looking for new instructions, particularly one and two bed flats. \u00a0We do continue to see steady demand for larger, family homes too but tenant expectations are high and Landlords need to take note that their properties should be kept fully up to date in order to secure a corporate tenant. Tenancy renewal levels remain high, contributing further to the shortages of stock.<\/p>\n Our Highgate branch reports good interest from applicants for the Woodberry Park property development in Finsbury Park.\u00a0 New apartments here are snapped up immediately and most existing tenants tend to renew their existing lease too so with stock is limited and no new phases launching until the autumn, we are keen to talk to landlords with properties here.<\/p>\n At Beaufort Park<\/strong> in Colindale, the year has started very positively, with demand remaining high.\u00a0\u00a0\u00a0 Generally, we have good stocks available of studios and two bed apartments, although we have limited numbers of one bed apartments.\u00a0 The new Capri and Argent Houses are almost complete now and apartments have been letting as soon as they become available.<\/p>\n West London<\/strong><\/p>\n Our West London branches<\/a> in Ealing, Brentford, Imperial Wharf<\/strong> and Hammersmith are also seeing good demand.\u00a0 Our Dickens Yard and Kew Bridge branches in particular, have been receiving a lot of enquiries and agreed a number of tenancies in the first week of January \u2013 there are just a few flats left at Dickens Yard\u2019s new building \u2013 Quartz House (formerly known as Elizabeth House).<\/p>\n Our Kew Bridge branch is now starting to receive enquiries about Queenshurst Square<\/a>, a brand-new property development close to the River in Kingston where we have a number of apartments to rent.<\/p>\n![\"\"](\"https:\/\/www.benhams.com\/news\/wp-content\/uploads\/2019\/01\/2-14-Prince-of-Wales-Terrace-Flat13-W8-5PE-6-e1547819870141.jpg\")
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